WHEREAS, Proposition 13 was overwhelmingly approved by the people of California by an affirmative vote of 66 65 percent on June 6, 1978; and

WHEREAS, Before the approval of Proposition 13, property tax rates for California homeowners were skyrocketing, sometimes increasing 50 or 100 percent in a single year; and

WHEREAS, The surge of property tax rates would have forced many homeowners, especially retired Californians, to lose their homes even after paying off their mortgages; and

WHEREAS, Without Proposition 13, the independence of retired Californians who own their own homes would have been threatened by the prospect of poverty or homelessness, despite decades of working hard and paying into pensions or Social Security; and

WHEREAS, The approval of Proposition 13 protected homeowner rights by making property taxes both lower and more predictable; and

WHEREAS, Proposition 13 has continued to save homeowners tens of thousands of dollars in taxes, which they can use to grow their savings, pay off their mortgage, and ensure their financial independence; now, therefore, be it