What is Proposition 2½?

Proposition 2½ is a voter initiative law that limits the property tax levy of cities and towns enacted in the 1980 state election.  It took effect in fiscal year 1982.  Proposition 2½ limits the amount that a city or town can raise in local property taxes.  

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1. What are different types of exemptions that are available?
2. What are the Assessor’s Office responsibilities?
3. What is excise tax?
4. What is the current tax rate?
5. What is the difference between an exemption and abatement?
6. Why did I receive a note on my door indicating that the Assessor wanted to inspect my property?
7. Why does my new assessed value not reflect the value of my house today?
8. What is Proposition 2½?
9. Why is did my tax bill increase by more than 2 1/2 percent from the previous year?
10. Why is the previous owner's name still on my tax bill when I purchase the property within the last year?