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Tag: Housing Market

Legal & Taxes

Proposition 13 Impact on California Real Estate: Stability vs Stagnation

In 1978, California passed Proposition 13, a major change to real estate tax law. It set a cap on property taxes at 1% of a property’s assessed value and limited yearly increases to no more than 2%. This was done to keep property owners from facing huge tax increases when property values shot up. Proposition

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