proposition 13

Definition

California initiative constitutional amendment approved in June 1978 that started an American anti-government tax revolt. The ballot measure set real estate property value for tax purposes at 1975-1976 market value, limited real estate taxes to 1 percent of that value, limited tax increases to 2 percent per year for continuing owners, provided for a full reassessed value base for new owners, required a two-thirds vote for legislative revenue increases, and made any local government tax increase dependent upon a two-thirds approval of the local voters.

单词	proposition 13
释义	proposition 13 Definition California initiative constitutional amendment approved in June 1978 that started an American anti-government tax revolt. The ballot measure set real estate property value for tax purposes at 1975-1976 market value, limited real estate taxes to 1 percent of that value, limited tax increases to 2 percent per year for continuing owners, provided for a full reassessed value base for new owners, required a two-thirds vote for legislative revenue increases, and made any local government tax increase dependent upon a two-thirds approval of the local voters.
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