UPDATE ON PROPERTY TAX INITIATIVE

EXEMPTS CERTAIN HOMEOWNERS AGED 60 OR OLDER FROM PROPERTY TAXES. INITIATIVE CONSTITUTIONAL AMENDMENT. 

Reduces local property tax revenues by exempting a principal residence from property taxes if the homeowner, or the homeowner’s spouse: (1) is 60 years of age or older; and (2) has occupied the home as a principal residence for five consecutive years or has lived in California for at least 10 years. Exemption terminates if property no longer qualifies as a principal residence.

After five years, homeowners must certify their continued eligibility to maintain exemption. Exemption does not apply to voter-approved special taxes, assessments, or bonds. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: Many homeowners ages 60 or older would pay lower property taxes.

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A court denied the California attorney general's request to stop a county sheriff's investigation into election fraud on March 25th.

The case was filed by Attorney General Rob Bonta, who said the denial was based on a technicality. The court's rejection is "based solely on where we filed the case and is not a ruling on the underlying of the petition," Bonta's office said.

Sheriff Chad Bianco, who is running for California governor, said that he is investigating allegations by an activist group that alleged the reported tallies don't match the ballots in the 2025 special election for Proposition 50, asking voters for endorsement to redraw the congressional districts in response to other Republican-led states, like Texas, redrawing their districts to pick up seats.

Bianco seized more than 650,000 ballots for the investigation, with two warrants signed by a judge. Bonta sent Bianco a letter March 6 alleging, "my office has serious concerns as to whether probable cause existed to support the issuance of the warrants and whether your office presented the magistrate with all material evidence as required by law."

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CALIFORNIA WEALTH/SAVINGS TAX INITIATIVE

California is considering a one-time wealth or savings tax targeting billionaires and high-net-worth residents, potentially raising tens of billions for state programs.

Overview of the Initiative

California Democrats have proposed a wealth or savings tax aimed at the state’s richest residents, often referred to as the 2026 Billionaire Tax Act. The initiative would impose a one-time tax of 5% on net worth exceeding $1 billion, including assets such as stocks, bonds, real estate, business interests, savings accounts, and retirement holdings, with limited exemptions for certain pensions and Roth IRAs capped at $10 million.

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According to the California Association of Winegrape Growers:

Growers and producers in California are facing economic challenges due to over production, imports which tariffs should help and changes in peoples drinking choices. The state’s vineyards shrank by an estimated 477,475 acres in 2025 according to the Wine Institute. The Association of Winegrape Growers has proposed a slate of bi-partisan bills to assist the industry, as follows:

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When devastating wildfires swept through California in 2025, many buildings were destroyed beyond repair. In fact, the Eaton and Palisades fires alone destroyed 40,000 acres of properties, and 6,800 buildings were damaged in the Palisades fire, affecting the Santa Monica Mountains.

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