Question

Describe the impact of proposition 13.

Answer 1

Proposition 13 (or "Prop. 13") rolled back most local real estate assessments to 1975 market value levels, limited the property tax rate to 1 percent plus the rate necessary to fund local voter-approved bonded indebtedness, and limited future property tax increases to a maximum of 2% per year.

Answer 2

Proposition 13 also changed the requirements for local governments to levy other taxes. Specifically, Proposition 13 requires two–thirds of voters to approve any special taxes levied by local governments. Special taxes are those taxes that raise funds for a particular purpose.