Analysis

What does it say?: Proposition 13 provides that the construction for seismically retrofit buildings,(which means to make earthquake resistance) will not affect the reassessment of the value on the property tax. This proposition overall sets a standard statewide, to seismically retrofit buildings that are safer for the environment and society without affecting the reassessment of property tax value. Which means that property owners do not have to pay higher taxes for making their property earthquake safety.
The proposition also limits the exemption for reassessing the construction or the reconstruction of buildings that qualify as seismic retrofit improvements. Proposition overall limits the government to put a higher tax on buildings that are reconstructed to be earthquake safety.
State and Local Government Fiscal impact: It makes small reductions in the local property tax revenues that are related to the assessment of earthquake improvements. And, therefore, the government doesn't get as much money on taxes, however proposition 13 will save the government a lot of money if an earthquake were to happen
Proposal of the legislature:This proposition deletes both of the exclusions that already exist and replaces them with one single exclusion for all earthquake safety upgrades. This exclusion will not be time limited and it will last until the property is sold. It removes the 15 year limit to the exclusion of safety upgrades.