The levy imposed on real estate holdings within Santa Cruz County, California, funds essential public services such as schools, libraries, parks, and road maintenance. For example, a homeowner’s annual payment is based on the assessed value of their residence. This assessed value is typically close to the market value at the time of purchase and may be adjusted annually, but is subject to limitations imposed by Proposition 13.
Stable and predictable revenue streams for local government are vital for maintaining the quality of life within the community. These funds enable consistent delivery of crucial services, contribute to infrastructure improvements, and support public safety initiatives. California’s Proposition 13, enacted in 1978, significantly impacted how these levies are assessed and increased, providing long-term homeowners with predictable tax burdens.