Segment |
Politics
Budget Buster
Prop 13 was a game changer when it was passed by voters in 1978. Capping property taxes at 1 percent of assessed value, the initiative has protected homeowners, but, say advocates, it has done an even greater job protecting commercial property. Brian Rooney investigates whether legislation intended to help families has instead proven a boon for some businesses which, thanks to Prop 13, are paying property taxes on values far below their market rates.
RSS: SoCal Connected
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