Government
Jul. 31, 2013
Proposition 13 reform push likely wouldn't help bankrupt cities
When Stockton sought bankruptcy protection in March, its creditors said the city should have tried to raise taxes first. Proposals to change Prop. 13 could make it easier to raise such taxes but experts doubt it would help bankrupt cities.
Daily Journal Staff Writer
SACRAMENTO - When Stockton sought bankruptcy protection in March, its creditors said the city should have tried to raise taxes before turning to the court. But the taxing power of California cities has long been curtailed by Proposition 13, the landmark 1978 voter initiative that capped property taxes. Newly proposed amendments to Prop. 13 could make it easier for cities to raise such revenues, but experts...
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