California E&S Insurance

Older homeowners who bought their homes decades ago, homeowners who inherited their primary residence, and corporate landowners like it. People who bought their houses recently don’t benefit much from it, and those who don’t own property dislike it, especially since it results in other taxes such as income tax and sales tax being significantly higher to try to make up the loss in property taxes that the state could have collected. Those taxes are generally more regressive and seen as subsidizing the haves as opposed to the have nots. They also bring in less than what property taxes would generate if not capped by Prop 13, which impacts state budgeting and decreases funding for things like schools.

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