Top Income Tax Brackets. Reinstatement. Revenues to Local Agencies.
Summary: Continues highest tax rates of 10% and 11% on residents with taxable income over $100,000 and $200,000, respectively, and residents who are heads of households with taxable income over $136,115 and $272,230, respectively. Requires appointment of revenues from continued tax brackets among counties. Requires counties to allocate such revenues among local agencies in accordance with each agency's proportionate share of property tax revenue that must be transferred under 1994 legislation to local school and community college districts. Prohibits future reduction of a local agency's proportionate share of property taxes.
Fiscal Impact: Annual increase in state personal income tax revenues of about $700 million, with about half the revenues allocated to schools and half to other local governments.
A YES vote on this measure means: Income taxes will be raised on the highest income taxpayers in the state, with the increased revenues going to schools and other local governments.
A NO vote on this measure means: Income taxes on the highest-income taxpayers in the state will not be raised.
The State Ballot Pamphlet, published by the Secretary of State, features the text, fiscal analysis, and pro/con arguments.
Official Contact Information
Proponents: Lenny Goldberg
Contact in Support: Yes on Proposition 217
2500 Wilshire Boulevard, Suite 508
Los Angeles, CA 90057
Contact in Opposition: Californians for Jobs, Not More Taxes/No on 217
111 Anza Boulevard, Suite 406
Burlingame, CA 94010
Related Web Sites
Support: Yes on Proposition 217 Opposition: Cal Tax's Ballot Brief Neutral: None available to date.
This initiative was placed on the ballot through petition of the voters.
Source information for this material is available.
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