Relative to the 39th anniversary of Proposition 13.
The resolution outlines how Proposition 13 provided financial stability for homeowners and small business owners who faced soaring taxes prior to its enactment. It highlights that, since its implementation, the average homeowners and small businesses have saved substantial amounts annually in property taxes, which in turn contributed to economic growth and stability in California. In the years following Proposition 13, the legislation is credited with enabling income growth in California to outpace the national average and assisting the state budget in expanding significantly.
Senate Resolution No. 39 commemorates the 39th anniversary of Proposition 13, which was approved by California voters on June 6, 1978. This landmark legislation significantly reduced property tax rates for homeowners, businesses, and farms while capping future increases. The resolution emphasizes the importance of home and business ownership as foundational to the American dream, contending that Proposition 13 has made it easier for individuals and families to achieve that dream, especially during a time when property tax rates were rising dramatically due to inflation.
Supporters of Proposition 13 argue that it has been a vital piece of legislation that prevents excessive property tax burdens, particularly for low-income and elderly homeowners. However, the bill acknowledges ongoing debates surrounding various proposed alternatives to Proposition 13, which often advocate for higher taxes on businesses and wealthier property owners. Opponents of such alternatives argue that these could lead to negative repercussions such as increased rents for tenants and discouragement of homeownership.
In reaffirming support for Proposition 13, SB39 also emphasizes that this law remains popular among California voters, with survey results indicating over 60% approval. The resolution concludes by formally recognizing June 6, 2017, as the 39th anniversary of Proposition 13 and encourages the continued celebration of its benefits to the California economy and its citizens.