SENIOR SENATE PROPOSAL NO. 16

INTRODUCED BY SENIOR SENATOR EATON

(COAUTHOR: SENIOR ASSEMBLY MEMBER GLASMEIER)

LEGISLATIVE COUNSEL'S DIGEST

SP 16: PROPERTY TAX-HOMEOWNERS' EXEMPTION.

UNDER EXISTING LAW, THE PROPERTY TAX EXEMPTION FOR A HOMEOWNER’S PRINCIPAL RESIDENCE IN CALIFORNIA IS $7,000 PER YEAR.

THIS MEASURE WOULD MEMORIALIZE THE LEGISLATURE AND THE GOVERNOR TO ENACT LEGISLATION THAT WOULD INCREASE THE PROPERTY TAX EXEMPTION FOR A HOMEOWNER’S PRINCIPAL RESIDENCE FOR SENIORS WHO ARE 62 YEARS OF AGE OR OLDER TO $27,000, WHICH AMOUNT WOULD BE ADJUSTED BASED ON AN APPROPRIATE COST-OF-LIVING INDEX, AS SPECIFIED.

VOTE: MAJORITY.

SP 16: RELATING TO TAXATION

WHEREAS, SINCE 1974, THE PROPERTY TAX EXEMPTION FOR THE PRINCIPAL RESIDENCE OF CALIFORNIA HOMEOWNERS HAS BEEN $7,000, WITH NO ADJUSTMENTS FOR INFLATION OVER THE PAST 36 YEARS; AND

WHEREAS, SENIORS ARE PARTICULARLY IMPACTED BY THIS FAILURE TO INCREASE THE HOMEOWNERS’ PROPERTY TAX EXEMPTION, SINCE MANY SENIORS LIVE ON A REDUCED INCOME; NOW, THEREFORE, BE IT

RESOLVED, BY THE SENIOR SENATE AND THE SENIOR ASSEMBLY, JOINTLY, THAT THE SENIOR LEGISLATURE OF THE STATE OF CALIFORNIA AT ITS 2010 REGULAR SESSION, A MAJORITY OF THE MEMBERS VOTING THEREFOR, HEREBY PROPOSES THAT THE HOMEOWNERS’ PROPERTY TAX EXEMPTION FOR THE PRINCIPAL RESIDENCE OF ANY SENIOR WHO IS 62 YEARS OF AGE OR OLDER BE INCREASED BY $20,000 FOR A TOTAL HOMEOWNERS’ PROPERTY TAX EXEMPTION OF $27,000, TO BE ADJUSTED BASED ON AN APPROPRIATE COST-OF-LIVING INDEX OF THE FULL VALUE OF THE RESIDENCE; AND BE IT FURTHER

RESOLVED, THAT THE SENIOR LEGISLATURE OF THE STATE OF CALIFORNIA RESPECTFULLY MEMORIALIZES THE LEGISLATURE AND THE GOVERNOR OF THE STATE OF CALIFORNIA TO ENACT APPROPRIATE LEGISLATION THAT WOULD ADDRESS THE CONCERNS SET FORTH IN THIS MEASURE; AND BE IT FURTHER

RESOLVED, THAT A COPY OF THIS MEASURE BE TRANSMITTED TO THE PRESIDENT PRO TEMPORE OF THE SENATE, THE SPEAKER OF THE ASSEMBLY, AND THE GOVERNOR OF THE STATE OF CALIFORNIA.

RN 10 13547

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