In this short video, viewers will learn how Paul Gann, co-author of Prop. 13, also amended the California Constitution in 1979 to limit the amount that state and local governments could spend. Proposition 4, aka the Gann Spending Limit, requires that excess tax revenues be rebated to the taxpayers. It is possible California taxpayers could receive rebate checks under the Gann Limit for the first time since 1987.

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Investing in real estate and 1031 exchange replacement properties may involve significant risks. These risks include, but are not limited to, lack of liquidity, limited transferability, conflicts of interest, loss of entire investment principal, declining market values, tenant vacancies, and real estate fluctuations based upon a number of factors, which may include changes in interest rates, laws, operating expenses, insurance costs and tenant turnover. Investors should also understand all fees associated with a particular investment and how those fees could affect the overall performance of the investment.

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