THE GENERAL REVENUE EFFECTS OF THE CALIFORNIA PROPERTY TAX LIMITATION AMENDMENT

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Abstract
The recent passage of the Jarvis-Gann property tax limitation initiative in California raises questions concerning the interrelationship between state and local revenue sources. This paper develops a general revenue model that incorporates the feedback and interaction between major federal, state and local revenue sources. The model is applied to California for the 1965-75 period using combined cross section and time series analysis. The empirical results indicate that there is considerable interdependence between all state and local tax revenue sources. The results are applied to an analysis of the complete effects of the property tax limitation initiative.

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