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What is Proposal A?

In 1994 Proposal A brought significant changes to the State’s Property Tax System.  However, Proposal A did not change standard assessment practices; all real and personal property must still be assessed at 50% of its true cash value.  Proposal A created a different value (taxable value) for property taxes to be calculated on.  Taxes are based on taxable value not state equalized value (SEV).  Proposal A also requires homeowners to file a Principal Residence Exemption Affidavit and Property Transfer Affidavit.

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