Property Tax - How Proposition 13 Determines Your Assessment

Property Tax - How Proposition 13 Determines Your Assessment

A Small Direction on Prop 13: You demand to know this if you own property! An essential element of property ownership is (like it or not) Property Taxes. And in California, the entire Property Tax concept is driven by the Jarvis-Gann Act, generally known as Proposition 13. Enacted in the late 70's, in response to sky-rocketing property values, Prop 13 places a limit on how much the taxable value on a given property can go up in one year.
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