Annotated Bibliography

Annotated Bibliographies

(source: http://www.federalreserve.gov/pubs/feds/2006/200625/index.html; see

Warren Buffett states and  attempted to call attention to the iniquities and inequities of Proposition 13 during the gubernatorial race of 2003, but in the long term he kept silence for he got ordered to do it. One would think that with a home ownership rate of only slightly over 50%, this terribly unjust structure would be politically vulnerable, especially in view of the evils it has produced. At the end he did not have the courage to confront these people and make this statement valuable.


source WWW.NYTimes.com




Tom Ammiano, who represents San Francisco in the State Assembly, is bravely venturing where few politicians dare. He advocates revamping Proposition 13, the sacrosanct measure that has essentially frozen many properties  bills at 1976 levels For the past two legislative sessions, Mr. Ammiano has sought to close what he and many others see as a loophole in Proposition 13’s treatment of commercial property. Even if an owner sells his entire interest in a piece of commercial real estate, the property is not reassessed if no single entity acquires more than a half-ownership stake. It is easy for corporations to structure deals to avoid a tax increase Mr. Costa states ;
“Prop 13 is a tragedy which has made things in California worse every year since it was passed,” Mr. Costa wrote in an e-mail. “The people of California have to settle for inferior schools, libraries, transit, roads, sewers, parks and other services. I don’t object as much to my personal tax bill, as I do the obscene discrepancy between the great wealth of this state and the relative poverty of our government and public institutions.”
Even Mr. Ammiano agrees that it is unfair that he pays one-sixteenth the property tax of Mr. Costa. “My feeling is, there’s a need for reform, absolutely,” he said.

 source WWW.HJTA.org


Prior to Proposition 13, property taxes were out of control. People were losing their homes because they could not pay their property taxes, yet government did nothing to help them.
In the finest tradition of the Boston Tea Party, California taxpayers stood up and said "No more!" to excessive taxes.
The Proposition 13 Revolution swept the country and made headlines around the world. It began a change in thinking about the tax burden property owners had to bear. Proposition 13 also started a revolution in the people turning to the initiative process to gain greater control over their lives “Prop 13 is a tragedy which has made things in California worse every year since it was passed,” Mr. Costa wrote in an e-mail. “The people of California have to settle for inferior schools, libraries, transit, roads, sewers, parks and other services. I don’t object as much to my personal tax bill, as I do the obscene discrepancy between the great wealth of this state and the relative poverty of our government and public institutions.”
Even Mr. Ammiano agrees that it is unfair that he pays one-sixteenth the property tax of Mr. Costa. “My feeling is, there’s a need for reform, absolutely,” he said.