SENIOR SENATE PROPOSAL NO. 3

INTRODUCED BY SENIOR SENATOR GRISWOLD

(COAUTHOR: SENIOR SENATOR EATON)

(COAUTHORS: SENIOR ASSEMBLY MEMBERS GLASMEIER AND HARTMANN)

LEGISLATIVE COUNSEL'S DIGEST

SP 3: PROPERTY TAX.

UNDER EXISTING LAW, ALL CALIFORNIA HOMEOWNERS RECEIVE A HOMEOWNERS’ EXEMPTION FROM PROPERTY TAXES IN THE AMOUNT OF $7,000 OF THE FULL VALUE OF THEIR PRINCIPAL RESIDENCE.

THIS MEASURE WOULD MEMORIALIZE THE LEGISLATURE AND THE GOVERNOR TO ENACT LEGISLATION THAT WOULD GIVE CALIFORNIA SENIORS WHO ARE 62 YEARS OF AGE OR OLDER AN ADDITIONAL $20,000 EXEMPTION OF THE FULL VALUE OF A PRINCIPAL RESIDENCE, FOR A TOTAL HOMEOWNERS’ PROPERTY TAX
EXEMPTION OF $27,000.

VOTE: MAJORITY.

SP 3: RELATING TO PROPERTY TAX HOMEOWNERS' EXEMPTION

WHEREAS, SINCE SEPTEMBER 1968, THE PROPERTY TAX EXEMPTION FOR ALL CALIFORNIA HOMEOWNERS HAS BEEN $7,000, WITH NO ADJUSTMENTS FOR INFLATION OVER THE PAST 40 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 2008 REGULAR SESSION, A MAJORITY OF THE MEMBERS VOTING THEREFOR, HEREBY PROPOSES THAT THE HOMEOWNERS’ PROPERTY TAX EXEMPTION FOR SENIORS WHO ARE 62 YEARS OF AGE OR OLDER BE INCREASED BY $20,000, FOR A TOTAL HOMEOWNERS’ PROPERTY TAX EXEMPTION OF $27,000 OF THE FULL VALUE OF A PRINCIPAL 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 08 21935

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