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                    <h1>California Proposition 13 Property Tax</h1>
                    <br><br>
                    <p>
                        <strong>Proposition 13</strong>, passed by California voters in 1978, is a landmark property tax law that limits the amount of property taxes a property owner can be required to pay.
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                    <h2>Key Features of Proposition 13</h2>
                    <ul>
                        <li>Property tax is capped at <strong>1% of the property's assessed value</strong>.</li>
                        <li>Assessed value is based on the property's <strong>purchase price</strong> plus a maximum 2% increase per year for inflation.</li>
                        <li>Reassessment to market value only occurs when a property is <strong>sold or newly constructed</strong>.</li>
                        <li>This provides <strong>predictability and stability</strong> in property tax bills for property owners.</li>
                    </ul>
                    <p>
                        Proposition 13 significantly reduced property tax rates at the time of passage and continues to influence California’s housing market, local government revenues, and property tax policy.
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                    <p>
                        For more detailed information, you can visit the official page from the <a href="https://www.boe.ca.gov/proptaxes/faqs/proposition13.htm" target="_blank">California State Board of Equalization</a>.
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