What is Proposition 13?
Proposition 13, approved by voters on June 6, 1978, established laws governing the valuation of properties in California for purposes of property taxation and set a limit of no more than one percent (1%) of the assessed market value of the property. Property is assessed at its full cash value when acquired through a change of ownership or by new construction. Each year thereafter, the taxable value of the property may increase by no more than the rate of inflation, or two percent (2%), whichever is less. There are exceptions to the valuation at the change of ownership. For additional information regarding assessed valuation of property, please refer to the Assessment Information page on the County Assessor’s Website.
