AMENDED IN SENIOR SENATE OCTOBER 30, 2012

SENIOR SENATE PROPOSAL NO. 3

INTRODUCED BY SENIOR SENATORS EATON AND LOH

LEGISLATIVE COUNSEL'S DIGEST

SP 3: PROPERTY TAX.

UNDER EXISTING LAW, ALL PROPERTY OWNERS RECEIVE A HOMEOWNERS’ EXEMPTION FROM PROPERTY TAXES IN THE AMOUNT OF $7,000 OF THE FULL VALUE OF A DWELLING.

THIS MEASURE WOULD MEMORIALIZE THE LEGISLATURE AND THE GOVERNOR TO ENACT LEGISLATION THAT WOULD GIVE CALIFORNIA SENIORS WHO ARE 65 YEARS OF AGE OR OLDER A HOMEOWNER'S PROPERTY TAX EXEMPTION WITH AN AMOUNT TO BE ADJUSTED BASED ON AN APPROPRIATE COST-OF-LIVING INDEX, OR THE FULL VALUE OF A PRIMARY PLACE OF RESIDENCE. THIS MEASURE WOULD BRING CALIFORNIA INTO CLOSER AGREEMENT WITH OTHER STATES IN THEIR TREATMENT OF PROPERTY TAX FOR SENIORS IN OTHER LOCATIONS.

VOTE: MAJORITY.

SP 3: RELATING TO PROPERTY TAX HOMEOWNERS’ EXEMPTION

WHEREAS, A SENIOR'S WELL-BEING AND LIVING CONDITIONS ARE NEGATIVELY AFFECTED BY THE FACT THAT THEY CANNOT KEEP UP WITH THE RAPIDLY RISING COST OF LIVING WITH ONLY THEIR FIXED INCOME, SOCIAL SECURITY BENEFITS, AND LIMITED SAVINGS; AND

WHEREAS, SOCIETY SHOULD RESPECT SENIORS AND MAKE SURE SENIORS CAN RESIDE IN THEIR OWN HOMES TO ENJOY THEIR GOLDEN YEARS WITH PRIDE AND INDEPENDENCE; AND

WHEREAS, SINCE THE PROPERTY TAX EXEMPTION FOR ALL CALIFORNIA HOMEOWNERS HAS BEEN $7,000, WITH NO ADJUSTMENTS FOR INFLATION OVER THE PAST 44 YEARS; AND

WHEREAS, SENIORS ARE PARTICULARLY IMPACTED BY THIS FAILURE TO INCREASE THE HOMEOWNERS’ PROPERTY TAX EXEMPTION; AND

WHEREAS, MANY SENIORS LIVE ON A REDUCED INCOME WITH INFLATIONARY PRESSURES; 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 2012 REGULAR SESSION, A MAJORITY OF THE MEMBERS VOTING THEREFOR, HEREBY PROPOSES THAT THE HOMEOWNERS’ PROPERTY TAX EXEMPTION FOR SENIORS WHO ARE 65 YEARS OF AGE OR OLDER BE INCREASED WITH AN AMOUNT TO BE ADJUSTED BASED ON AN APPROPRIATE COST-OF-LIVING INDEX, OF THE FULL VALUE OF A PRIMARY PLACE OF 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 SPEAKER OF THE ASSEMBLY, THE PRESIDENT PRO TEMPORE OF THE SENATE, AND THE GOVERNOR OF THE STATE OF CALIFORNIA.

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RN 12 16492