FAKE NEWS ALERT: There is no "Education and Local Government Funding Initiative" to "repeal Prop. 13" on the ballot this year. That was Prop. 15 in 2020 and we beat it. What is on the ballot this year are five other tax-related measures. Proposition 3: This proposition renews the "temporary" income tax hike on high earners for education and this time makes it permanent. Proposition 40: This is the “wealth tax,” supposedly affecting only billionaires but in fact a threat to every California taxpayer and homeowner. Prop. 40 imposes a “one-time tax” of 5% of “covered assets” valued above $1 billion. However, the measure includes language that allows the Legislature to rewrite the law later, potentially changing the thresholds, the assets that are covered, the percentage to be taken, and the number of times the tax would be levied. Proposition 41: This proposition requires pre-election audits of programs that would be funded by new statewide special taxes. Proposition 42: In direct opposition to the “wealth tax,” this proposition would prohibit any new state tax that taxes the ownership or control of personal property or applies retroactively based on activities or status that existed before the effective date of the new state tax. Proposition 43: Proposition 43 is the Local Taxpayer Protection Act to Save Proposition 13. It restores Prop. 13’s two-thirds vote requirement to pass local special taxes. Prop. 43 closes the court-created “Upland” loophole that has allowed special interest groups to write their own tax increases, direct the money to themselves, collect signatures to place them on the ballot and then evade the two-thirds vote requirement. Because of this loophole, Californians are paying billions of dollars in taxes that they should not have had to pay. For more information and our recommendations check out the Howard Jarvis voter guide