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California Proposition 50, Tax Assessments for Property After a Declared Disaster Amendment (June 1986)
| California Proposition 50 | |
|---|---|
 | |
| Election date June 3, 1986 | |
| Topic Taxes | |
Status Approved | |
| Type Constitutional amendment | Origin State legislature |
California Proposition 50 was on the ballot as a legislatively referred constitutional amendment in California on June 3, 1986. It was approved.
A "yes" vote supported amending the state constitution to require the state legislature to provide that a replacement property acquired after a declared disaster to have the same tax assessment as property damaged by the disaster as long as both properties are in the same county and are comparable. |
A "no" vote opposed amending the state constitution to require the state legislature to provide that a replacement property acquired after a declared disaster to have the same tax assessment as property damaged by the disaster as long as both properties are in the same county and are comparable. |
Election results
|
California Proposition 50 |
||||
|---|---|---|---|---|
| Result | Votes | Percentage | ||
|
|
2,910,665 | 70.46% | ||
| No | 1,220,565 | 29.54% | ||
Text of measure
Ballot title
The ballot title for Proposition 50 was as follows:
| “ | Property Taxation. Disasters. Legislative Constitutional Amendment. | ” |
Ballot summary
The ballot summary for this measure was:
| “ | Currently, with exceptions, real property ad valorem taxes are limited to 1% of the full cash value base of the property (value in 1975-76 or thereafter, when property is acquired from another party or new construction occurs; increased up to 2% annually for inflation. For property reconstructed after disaster, base-year value is not increased to reflect new construction if fair market value is comparable to that before disaster. This amendment similarly provides that base-year value may be transferred to comparable property acquired in same county to replace property substantially damaged or destroyed by disaster. Summary of Legislative Analyst's estimate of net state and local government fiscal impact: Beginning in 1985-86, local property tax revenues would decrease by an unknown amount. County assessors and tax collectors would have higher administrative costs which would vary from county to county, but should not be significant. State would replace revenues lost by school districts and community college districts. State income tax revenues could increase because owners of replacement property could deduct smaller amounts of property taxes on income tax returns. These effects on state costs and revenues cannot be estimated. | ” |
Full Text
The full text of this measure is available here.
Path to the ballot
A two-thirds vote was needed in each chamber of the California State Legislature to refer the constitutional amendment to the ballot for voter consideration.
See also
External links
Footnotes
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State of California Sacramento (capital) |
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