Enacted by California voters in 1978, Prop. 13 limited property taxes to 1 percent of the purchase price, with a maximum increase of 2 percent per year for inflation. Changes to Prop. 13 could only be made by state or local voters.
Since then, local voters sometimes have increased property taxes to fund schools, usually through higher percentage taxes on a property's value, but sometimes through a parcel tax -- a tax of a specified amount on each parcel.
Prop. 88 is a statewide parcel tax -- the first such statewide tax in California since 1910. Every parcel in the state, no matter what size, would pay $50 to fund statewide education programs, amounting to $450 million to $500 million a year. A car dealer or Costco would pay $50, the same as for a family home or small business.
Read more about Prop 88 on the Howard Jarvis website or do your own Google search.
I'm voting NO on 88 this fall.
50, 100, 150, 200, 250, 300, 350...
Even the owners of these ugly generic houses shouldn't have to cough up an extra $50 bucks every year, especially when it can be raised every 4 years.