Before Proposition 13 passed in 1978, property tax bills pushed many into hardship; one woman even suffered a fatal heart attack at the county office. This stark reality underscores the taxing impact on homeowners during that period.
Proposition 13 offered much-needed relief by reducing the tax rate to 1% and capping assessed value increases at 2% per year, stabilizing property ownership costs.
Proposition 5 poses a serious threat by potentially allowing property taxes to increase annually, endangering homeowners' ability to afford housing, thus reviving past hardships.
If Proposition 5 is passed, it would also undermine existing taxpayer protections requiring a two-thirds vote for local debts, jeopardizing fiscal responsibility across local governments.
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