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California Proposition 14, Taxes and Financing Initiative (1972)
| California Proposition 14 | |
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| Election date |
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| Topic Taxes |
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| Status |
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| Type Initiated constitutional amendment |
Origin |
California Proposition 14 was on the ballot as an initiated constitutional amendment in California on November 7, 1972. It was defeated.
A “yes” vote supported limiting ad valorem property taxes and revising the system for financing public education and social welfare. |
A “no” vote opposed limiting ad valorem property taxes and revising the system for financing public education and social welfare. |
Election results
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California Proposition 14 |
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| Result | Votes | Percentage | ||
| Yes | 2,700,095 | 34.12% | ||
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5,213,485 | 65.88% | ||
Text of measure
Ballot title
The ballot title for Proposition 14 was as follows:
| “ | Property Tax Limitations | ” |
Ballot summary
The ballot summary for this measure was:
| “ | Initiative Constitutional Amendment. Establishes ad valorem property tax rate limitations for all purposes except payment of designated types of debts and liabilities. Eliminates property tax for welfare purposes, limits property tax for education, and requires state funding of these functions from other taxes. Increases sales, use, cigarette, distilled spirits, and corporation t taxes. Decreases state taxes on insurance companies and banks and local sales and use taxes. Requires severance tax on extraction of minerals and hydrocarbons. Requires two-thirds vote of Legislature to increase designated taxes. Restricts new exemptions from property tax to those approved by election. Financial impact: A net ascertainable decrease in revenues to state and local government in excess of $1,233,000,000 per year. | ” |
Full Text
The full text of this measure is available here.
Path to the ballot
In California, the number of signatures required for an initiated constitutional amendment is equal to 8 percent of the votes cast at the preceding gubernatorial election. For initiated amendments filed in 1972, at least 520,806 valid signatures were required.
See also
External links
Footnotes
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State of California Sacramento (capital) |
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