By Donna Westfall – December 30, 2021
From Howard Jarvis Taxpayer’s Associations Newsletter:
“With more and more families receiving notices that the death of a parent has triggered reassessment of family properties and sharply higher tax bills, the Howard Jarvis Taxpayers Association has filed a ballot initiative with the attorney general’s office to repeal the death tax.
Last November, many voters were unaware that Proposition 19, which passed narrowly, included a provision that affected intergenerational transfers of homes and other property. Prior to Prop. 19, parents could transfer a home of any value plus up to $1 million of assessed value of other property to their children, without reassessment to market value. However, effective February 16, 2021, this is no longer true.
HJTA is fighting to restore the ability of parents to pass property to their children without any change to the property tax bill.
The new initiative is titled the Repeal the Death Tax Act. It would reverse the Prop. 19 changes to the rules affecting intergenerational transfers. To further protect California families, the measure includes an inflation adjustment for properties in addition to the primary residence. Up to $2.4 million of assessed value would be excluded from reassessment upon transfer, offering significant tax benefits to families that own small business properties or rental units for income. A primary residence of any value would be excluded from reassessment.
As the organization responsible for the successful campaign to pass Proposition 13 in 1978, the Howard Jarvis Taxpayers Association has long experience with initiatives. It is challenging to qualify measures for the ballot. The Repeal the Death Tax Act needs 997,139 valid signatures of registered voters in order to be on the November 2022 ballot, and we would need to collect about 1.3 million to be sure of meeting the requirement. Adding to the difficulty, the timeline is tight. Petition circulation cannot begin until the attorney general has issued a title and summary in early November, and the deadline to collect the necessary signatures is April 29, 2022.
This will not be easy, and to move forward we have to be convinced that qualification has a real chance of success.
That’s why HJTA needs your help to make this happen.”
Folks, this is a non-partisan issue!
If you’re feeling taxed to death, just know that people throughout California are working towards reversing the trend.
Sure it’s not easy. But it’s certainly worthwhile.
Just like our small county. We, the Crescent City- Del Norte Taxpayer’s Association are working on repealing the 1% sales tax put into effect last year by the City of Crescent City and the County of Del Norte.
Petitions have already been approved by the County Attorney for signatures. 416 signatures of registered voters are required to place this on the June 2022 ballot.
The City is reviewing the petition as the first one didn’t pass muster per Attorney Martha Rice. The revised version was handed into City Clerk, Robin Patch Wednesday, December 29th. Only 49 signatures required to put that one on the June 2022 ballot.
As far as the Crescent Fire District Assessment, a poorly written tax, that is also being worked on with an eye toward repealing it. It won by 1/4 of a vote or $17.80!
Call (707) 951-3650 and leave a message for information on picking up petitions/signing petitions on local issues. Petitions are also available on Repealing the Death Tax at Republican Headquarters located at the corner of 3rd and I Streets in downtown Crescent City.