Originally Posted by baddog

jeez, stop listening to Tony. prop 13 locked in rates for people that owned their homes prior to 1978. I can assure you I pay more than $2k a year on my home and it is not worth anywhere close to $2.4 million


The law: Section 1. (a) The maximum amount of any ad valorem tax on real property shall not exceed one percent (1%) of the full cash value of such property. The one percent (1%) tax to be collected by the counties and apportioned according to law to the districts within the counties.