taxes

Democrats Pushing to Limit Prop 13

Katie Orr — Thu, 16 May 2013 19:21:13 +0000

Some Democrats at the Capitol are attempting to chip away at California’s fabled Prop 13. But supporters of the property tax limiting measure are digging in to fight back. Katie Orr reports from Sacramento.

Proposition 13 limits property taxes in California. But it also requires a two-thirds vote of the public to increase any special taxes. Six Democratic sponsored bills making their way through the Senate would lower that voter requirement to 55 percent approval.

Brown's Updated Budget Proposal: More Money to Schools, But Not Much Else

Marianne Russ — Tue, 14 May 2013 22:08:15 +0000

California Governor Jerry Brown has released an updated budget proposal that includes more money for schools this year, and less overall spending next year.

His spending plan for the fiscal year that starts in July includes about $1.3 billion less than his January proposal. Brown says the state’s economic picture has weakened due to the federal sequester and the federal payroll tax change.

“We have climbed out of a hole with a Proposition 30 tax. That is good, but this is not the time to break out the champagne,” says Brown.

State Tax Revenues Up in March; April Will Be More Telling

Amy Quinton — Thu, 11 Apr 2013 01:07:13 +0000

California tax revenues ended the month of March about 7 percent above estimates in the Governor’s budget. As Amy Quinton reports from Sacramento, the state controller’s office says April’s numbers will reveal far more about California’s fiscal health.

Revenues in March were $395 million above the Governor’s budget estimates. That puts total revenues for the fiscal year more than 4-billion above estimates so far. But April will be key for the state as income tax deposits continue to roll in.

New Year, New Taxes Thanks to Props 30, 39

Ben Adler — Wed, 02 Jan 2013 20:30:19 +0000

California taxes are going up in the new year – with higher sales and income tax rates … and a new requirement for out-of-state businesses to calculate their taxes the same way in-state businesses do.

In November, voters approved two ballot measures that deal with taxes. Proposition 30 raises the sales tax a quarter of a cent to 7.5 percent, starting in the new year

Enterprise Zone Tax Credit Could See Changes Next Year

Ben Adler — Wed, 12 Dec 2012 19:48:12 +0000

California Governor Jerry Brown and Democratic legislative leaders say they’re not looking at more tax increases now that voters have approved Proposition 30.

But as Ben Adler reports from Sacramento, tax credits could be on the table, like the controversial Enterprise Zone program.

California offers 700 million dollars a year in tax credits to businesses who add or retain jobs in economically distressed neighborhoods.

The governor proposed eliminating Enterprise Zones last year but couldn’t win legislative approval.

Prop 13 Changes on the Table in New California Legislature

Ben Adler — Fri, 07 Dec 2012 01:41:55 +0000

It’s only the first week of the new California legislative session. But three Democrats have already signaled they’re ready to adjust the “third rail” of California politics – the landmark property tax measure known as Proposition 13.

Assemblyman Tom Ammiano is the latest Democratic lawmaker to call for a change to Prop 13. He wants to stop large companies from disguising changes in ownership that would normally trigger reassessments – something homeowners can’t do.

California Lawmaker Proposes Changes to Proposition 13

Amy Quinton — Fri, 30 Nov 2012 00:19:48 +0000

California Democratic state Senator Mark Leno plans to introduce a constitutional amendment on Monday that will make it easier to pass local taxes for schools.

The amendment would allow voters to pass school parcel taxes with a 55-percent vote instead of the two-thirds vote required by Proposition 13.

Jon Coupal with the Howard Jarvis Taxpayers Association says the legislation isn’t surprising given that Democrats now hold a supermajority in the legislature.

Some California Small Businesses Wary of Brown's Prop 30

Ben Adler — Wed, 24 Oct 2012 17:28:47 +0000

California Governor Jerry Brown’s November tax measure is drawing some of its strongest opposition from small business groups. Ben Adler reports from Sacramento on how some small businesses would be affected by Proposition 30.

James Wright owns part of a small business in Los Angeles County that manufactures manhole covers – with about 10 million dollars in sales. Wright doesn’t take anywhere near that much home to his family. But he does have to pay personal income taxes on company profits … using money from the business itself.

Battle Between Two Rival Tax Measures on California's Ballot Heating Up

Amy Quinton — Tue, 09 Oct 2012 23:01:48 +0000

The battle between two rival tax measures on California’s November ballot is heating up. As Amy Quinton reports from Sacramento, Proposition 38 proponent Molly Munger has released a new TV ad blasting Governor Jerry Brown’s tax initiative, Proposition 30.

Despite Munger spending more than $30 million on her tax measure, until now the campaign for Proposition 38 has avoided mentioning Proposition 30.

But Munger’s latest ad criticizes the Governor’s competing tax initiative, saying it allows politicians to take money away from schools.

Proposition 30: Gov. Brown's Tax Initiative

Ben Adler — Tue, 09 Oct 2012 17:03:15 +0000

Election Day is still weeks away, but voting in California actually begins this week as counties send out vote-by-mail ballots. Today, we kick off our look at the 11 statewide measures Californians will decide this fall – and we begin with Governor Jerry Brown’s tax initiative, Proposition 30.