HomeMy WebLinkAbout6885 - Proposition 1ATHS.aj r
10/7/68
RESOLUTION NO. 6885
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
• NEWPORT BEACH IN SUPPORT OF PROPOSITION lA WHICH
PROVIDES TAX RELIEF TO HOMEOWNERS AND RENTERS
_i
WHEREAS, Proposition lA would, if adopted, establish a
homeowners' tax exemption of not less than $750 of assessed
valuation for each dwelling occupied by an owner as his place
of residence and further provides that the resultant loss of
property tax revenue to each county and city shall be reimbursed
by the State; and
WHEREAS, Senate Bill No. 8 which will become effective
only upon adoption of Proposition IA would exempt household goods
and personal effects from property taxation commencing on July 1,
1969, and would exempt 15% of the value of business inventories
from property taxation commencing for the fiscal year beginning
on July 1, 1969; and
WHEREAS, Senate Bill No. 8 will also provide tax relief
to persons who rent their residences by providing for an increase
in the standard deduction from the State income tax; and
WHEREAS, in the judgment of the City Council,
Proposition lA represents a timely and significant first step
towards a complete tax reform program and indicates that the
Legislature is seriously interested in pursuing such a program;
NOW, THEREFORE, BE IT RESOLVED by the City Council of
the City of Newport Beach that it strongly supports the adoption
of Proposition IA and recommends a YES vote on said proposition
• at the election to be held on November 5, 1968.
ADOPTED this % E day of October, 1968.
6-1�ym 40 �h�d1011@ t
Mayor
ATTEST.
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Cty 3MN - (7
CERTIFIED AS THE ORI INAL
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CITY CLERIC OF SHE N; :.T BEACH
DATE.