1978 California Proposition 8
Proposition 8 was an amendment of the Constitution of California relating to the assessment of property values. It was proposed by the California State Legislature and approved by voters in a referendum held on 7 November 1978.
The amendment was necessitated by the passage of Proposition 13 in June of the same year. Proposition 8 allowed for a reassessment of real property values in a declining market. For this purpose it amended Article 13A of the state constitution, which had been added by Proposition 13. Today a reassessment based on a decline in market value is called a "Proposition 8" reassessment.
