Bill > ACR52

Introduced Session

If approved by the voters of the State, this proposed constitutional amendment would require the Legislature to place a limit on annual assessment increases for homestead real property. Homestead real property, which is the principal residence of the owners of the property, would be assessed at true value as of the January 1 next following the approval by the voters of this proposed amendment, and would then be reassessed annually on each succeeding January 1. Any annual increase in the property's assessment would be limited to 3% or the Consumer Price Index rate, whichever is lower. When a homestead real property changes ownership, the property would be assessed at true value as of January 1 of the year following the change of ownership. Thereafter, any limitations in the annual increase in the assessed value of the property would once again apply until the next time the property changes ownership. The limitations on assessment increases established by this amendment would not apply to an added assessment that results from an improvement. Additionally, this proposed constitutional amendment would require the Legislature to provide a homestead property tax exemption on up to $50,000 of assessed value. Specifically, this exemption would consist of (1) a full property tax exemption on the first $25,000 of value assessed to a homestead property, and (2) an exemption from all non-school district property taxes on the third $25,000 of value assessed to a homestead property, meaning value assessed between $50,000 and $75,000.

AI Summary

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Dawn Fantasia (R)*,  Michael Inganamort (R)*, 

Introduced, Referred to Assembly Housing Committee (on 01/13/2026)

Official Document