Proposition 13 and Effective Property Tax Rates

Michael Wiseman
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Michael Wiseman: University of Wisconsin-Madison

Public Finance Review, 1989, vol. 17, issue 4, 391-408

Abstract: This article uses sales data and the entire property assessment roll to calculate the ratio of assessed value to market value for all taxed real estate in San Francisco in 1984. The object is to examine the distribution of effective rates of property taxation under the assessment system introduced in California in 1978 by voter initiative (Proposition 13). The estimated aggregate assessment ratio for the city is .55. Assessment ratios differ signifzcantly among and within property types, with average business and private homeowners paying lower rates than owners of multiple-unit dwellings. Within property classes, assessment ratios (and consequently, effective rates of property taxation) are shown to be inversely related to property values.

Date: 1989
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Persistent link: https://EconPapers.repec.org/RePEc:sae:pubfin:v:17:y:1989:i:4:p:391-408

DOI: 10.1177/109114218901700403

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