The ballot on Election Day 2020 could ask California voters to authorize a new estate tax if a pending proposal is approved by the state senate. Senate bill 378 targets intergenerational transfers of assets by imposing a 40{b2882cad84bd77ee25ab8b8b9d1b0566021dcc5c7d8a30d0e639a0635fa20cc0} tax on the estates of residents who die as of January 1, 2021, or after. The proposed...Read More

The passage of Proposition 13 in 1978 established an initial base year, 1975-76, for assessed valuation for California real property that had not undergone a change in ownership since February 1975. Under Proposition 13, property taxes are limited to one percent of the assessed value of the property. Additional property taxes may be approved for...Read More