Overview
- Proposition 13 would raise the mandatory school-district homestead exemption from $100,000 to $140,000, affecting nearly 5.7 million homeowners and slated to take effect this year if approved.
- Proposition 11 asks voters to let the Legislature increase the exemption for elderly and disabled homeowners, with ballot language not specifying an amount and news reports describing differing figures.
- Analysts estimate the two measures would reduce school revenue by roughly $3 billion, and sponsor Sen. Paul Bettencourt says the state surplus would be used to backfill the loss.
- According to Bettencourt’s office, the combined changes would save the average homeowner about $484 a year, roughly $907 for over 2 million seniors, and about $2,500 for small businesses.
- The measures appear on a ballot with 17 proposed constitutional amendments statewide on Nov. 4, and election results were not yet reported in the articles.