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California Residential Property Tax Exemption and Surcharge and Housing Development Reviews Initiative (2022)
| California Residential Property Tax Exemption and Surcharge and Housing Development Reviews Initiative | |
|---|---|
 | |
| Election date November 8, 2022 | |
| Topic Housing and Taxes | |
| Status Not on the ballot | |
| Type Constitutional amendment | Origin Citizens |
The California Residential Property Tax Exemption and Surcharge and Housing Development Reviews Initiative (#21-0023) was not on the ballot in California as an initiated constitutional amendment on November 8, 2022.
The ballot measure would have:
- increased the tax exemption for dwellings from $7,000 to $200,000,
- provided an income tax credit for renters of up to $2,000,
- established a surcharge on residential properties valued at $4 million or more, and
- made changes to local government reviews of certain housing developments.[1]
Text of the measure
Ballot title
The ballot title would have been as follows:[2]
| “ |
Increases Homeowners’ Real Property Tax Exemption and Provides Supplemental Renters’ Tax Credit. Increases Taxes on High-value Properties. Limits Local Restrictions on Housing Development. Initiative Constitutional Amendment and Statute.[3] |
” |
Petition summary
The summary provided for inclusion on signature petition sheets was as follows:[2]
| “ |
Increases the portion of a homeowner’s property value that is exempt from property tax, from $7,000 currently to $200,000 (adjusted for inflation). Provides up to $2,000 supplemental income tax credit for renters (adjusted for inflation). Reimburses local governments’ lost revenue from these tax changes by enacting new property tax surcharge of up to 1.4% on properties valued over $4 million. Limits local government discretion to deny certain proposed housing development projects.[3] |
” |
Fiscal impact
The fiscal impact statement would have been as follows:[2]
| “ |
Increased property taxes on property with a taxable value of more than $4 million providing $16 billion to $20 billion in new revenue. Increased state costs resulting from the increases to the homeowners’ property tax exemption and renters’ tax credit. Increased costs to local governments for carrying out the measure. Total costs would be about $15 billion annually and likely would be fully offset by revenue from increased property taxes on higher value properties.[3] |
” |
Full text
The full text is available here.
Path to the ballot
Process in California
In California, the number of signatures required for an initiated constitutional amendment is equal to 8 percent of the votes cast in the preceding gubernatorial election. Petitions are allowed to circulate for 180 days from the date the attorney general prepares the petition language. Signatures need to be certified at least 131 days before the general election. As the verification process can take multiple months, the secretary of state provides suggested deadlines for ballot initiatives.
The requirements to get initiated constitutional amendments certified for the 2022 ballot:
- Signatures: 997,139 valid signatures were required.
- Deadline: The deadline for signature verification was 131 days before the general election, which was around June 30, 2022. However, the process of verifying signatures can take multiple months and proponents are recommended to file signatures at least two months before the verification deadline.
Signatures are first filed with local election officials, who determine the total number of signatures submitted. If the total number is equal to at least 100 percent of the required signatures, then local election officials perform a random check of signatures submitted in their counties. If the random sample estimates that more than 110 percent of the required number of signatures are valid, the initiative is eligible for the ballot. If the random sample estimates that between 95 and 110 percent of the required number of signatures are valid, a full check of signatures is done to determine the total number of valid signatures. If less than 95 percent are estimated to be valid, the initiative does not make the ballot.
Initiative #21-0023
Stanley R. Apps filed the ballot initiative on September 23, 2021.[4] The Attorney General of California issued ballot language for the initiative on November 30, 2021, allowing a signature drive to begin. Signatures were due on May 31, 2022.
The sponsors did not submit the required number of signatures by the circulation deadline.[2]
See also
External links
Footnotes
- ↑ California Attorney General, "Initiative 21-0023," September 23, 2021
- ↑ 2.0 2.1 2.2 2.3 California Secretary of State, "Initiatives and Referenda Cleared for Circulation," accessed October 20, 2021
- ↑ 3.0 3.1 3.2 Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
- ↑ California Secretary of State, "Initiatives," accessed September 23, 2021
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State of California Sacramento (capital) |
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