Repeal the Death Tax; An Initiative Constitutional Amendment for the November 2024 Ballot

South San Francisco, CA  August 28, 2023

Submitted by Cynthia Marcopulos, Community Leader

 Submitted by Robert Riechel, Riechel Reports

REPEAL THE DEATH TAX

An Initiative Constitutional Amendment for the November 2024 Ballot

About this initiative – The Repeal the Death Tax Act will restore the constitutional rights that were lost in 2020 when Proposition 19 narrowly passed: the right for parents to transfer their home and limited other property to their children without triggering reassessment to market value and an unaffordable tax increase. This measure will not affect the other parts of Proposition 19. It simply restores the rights that Californians had for decades and then lost. The Repeal the Death Tax Act will also enable anyone whose property was reassessed due to a parent-child transfer to have their former base-year value under Proposition 13 restored to their property again. But first we need a million signatures to get it on the ballot!

Below, you’ll find four pages:

1. This cover sheet, with a clip-and-tape mailing label (below) to make it easy to return your signed petition as soon as possible
2. Step-by-step illustrated instructions for signing and completing the petition to be sure your signature will count
3. A Top Funders Sheet, required by law to be shown to all petition signers
4. The official, legal petition to print and sign (in blue or black ink)

You can print as many petitions as you’d like, and you can also have copies made, just make sure the top margin is the same size.

If you would prefer to have petitions mailed to you, or if you have questions, please call the Howard Jarvis Taxpayers Association at 916-444-9950.

Visit RepealTheDeathTax.com for more information. Thank you!

Ad paid for by Repeal the Death Tax, a Project of the Howard Jarvis Taxpayers Association

OFFICIAL TOP FUNDERS. Valid only for August 2023

REPEALS VOTER-ENACTED CHANGES TO PROPERTY TAX RULES FOR TRANSFERS BETWEEN FAMILY MEMBERS. INITIATIVE CONSTITUTIONAL AMENDMENT.

Petition circulation paid for by

Repeal the Death Tax, a Project of the Howard Jarvis Taxpayers Association

Latest Official Top Funders: https://www.sos.ca.gov/elections/ballot-measures/initiative-and-referendum-

status/official-top-funders

OFFICIAL TITLE AND SUMMARY (SAME AS ON PETITION)

The Attorney General of California has prepared the following circulating title and summary of the chief purpose and points of the proposed measure:

(23-0005) REPEALS VOTER-ENACTED CHANGES TO PROPERTY TAX RULES FOR TRANSFERS BETWEEN FAMILY MEMBERS. INITIATIVE CONSTITUTIONAL AMENDMENT. Reinstates property tax reassessment rules for certain real property transfers between family members (including by inheritance), which voters eliminated through Proposition 19 in 2020, reducing local property tax revenues and eliminating funding source for Proposition 19’s California Fire Response Fund. Allows transfers to children (or grandchildren if parents are deceased) without property tax reassessment of: (1) principal residence, regardless of current value or continued use as principal residence; and (2) $1 million in other real property. Starting in 2025, properties assessed under Proposition 19 may be reassessed under reinstated rules. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: Some owners of inherited properties would pay lower property taxes. This would reduce revenue for local governments and schools by several hundred million dollars per year in the first few years. These losses would grow over time, reaching $1.5 billion to $2 billion annually.