Local government; option to offer a state-wide homestead exemption from ad valorem taxes when current year assessed value exceeds the inflation rate; provide - CA

A RESOLUTION proposing an amendment to the Constitution so as to provide for local governments to have the option to offer a state-wide homestead exemption from ad valorem taxes in an amount equal to any amount by which the current year assessed value of a homestead exceeds the inflation rate from the adjusted base year value of such homestead as provided by general law; to provide for the submission of this amendment for ratification or rejection; and for other purposes.