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'A Return to Equity'

February 28, 1986

The proposal to index the property tax exemption would not be a "Return to Equity" but would only make Proposition 13 less unfair. If the political clout to get all property taxed on a near equal basis is not yet present, it soon will be as the post-Proposition 13 homeowners become an ever larger portion of the taxpayer population.

Although such a major reform would remove an unneeded advantage for most pre-Proposition 13 home owners, there would be some such as the elderly living on fixed incomes for whom it could cause hardship. Recognizing that, Proposition 13 could be amended to provide that payment of taxes on the difference between the amount due under current Proposition 13 terms and the amount that would be due based on current market value could be deferred, with interest, until there was a change in ownership.

DAVID KEENEY

San Diego

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