The state could not establish new taxes on the ownership of financial assets or other personal property.
PROP42
California · November 3, 2026 · upcoming
PROHIBITS NEW STATE PERSONAL PROPERTY TAXES AND CERTAIN RETROACTIVE STATE TAXES.
Prohibits any new state tax (1) imposed on the ownership of personal property (all things people own other than real estate), or (2) that applies retroactively based on taxpayer’s past activities. Nullifies taxes enacted after January 1, 2026 that conflict with this measure.
What your vote means
Yes or No, in the state's words
The state would continue to have the option to establish new taxes on the ownership of financial assets or other personal property.
What the state says it may cost or change
Possibility that tax revenues will not go up as much in the future.
Read the full analysis
The Quick Reference Guide does not publish a separate current-law sentence for this proposition. Election.org does not infer one. The Legislative Analyst's analysis in the official proposition PDF explains the baseline law.
Open official analysis ↗Qualified through petition signatures
The official guide labels this measure as put on the ballot by Petition Signatures. This is a source classification, not an Election.org judgment.
Not available before Election Day
This election is upcoming. Election.org will not show a blank or zero as a result.
Attributed positions
Who the official quick guide lists
CA Professional Firefighters; State Building & Construction Trades Council of CA; AMVETS Department of CA
US Senator Bernie Sanders; SEIU United Healthcare Workers West
Arguments are the opinions of their authors and have not been checked for accuracy by an official agency.