By IE Business Daily
January 31, 2015
In 1978, Californians passed Proposition 13 to cap property tax increases at two percent per year. At the time, and as we saw last decade, property values were increasing at such a fast pace, that many people had difficulty keeping up with the doubling and tripling of their property taxes. Seniors on fixed incomes were sometimes forced to sell their homes because the taxation levels exceeded their ability to pay the taxes.