That is paired with a requirement that cities, unlike other levels of government, have to have balanced budgets by law, and so we can never overspend what we don't have. Prop. 2 and a half itself came as a response to tax classification, which happened a couple years earlier than that in the 70s. which was the move to separate out rates for commercial versus residential properties. @ first, everything was taxed in the same way, and then by law, there was an initiative … (12:02–14:05)
CLAIM
Asserts that Prop 2 and a half was a response to earlier tax classification changes in the 1970s.
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