Ad valorem tax; business enterprises; rate of assessment of 1,000 or more single family residential properties used for rental income; provisions - CA

Summary

The proposal adds a new class of property for ad valorem tax purposes covering any business that owns 1,000 or more single‑family homes used as rentals. Those properties would be assessed at 100 % of market value, and the tax revenue must first be applied to lower residential homestead tax bills in the same locality. The amendment would be placed on the ballot for voter approval.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share