A few short years after California voters defeated Proposition 15, the “split roll” property tax amendment to raise rates on commercial owners, there’s another threat to Proposition 13 and its protection against property tax hikes.

As part of the AB 259 wealth tax proposal by Assemblymember Alex Lee (D-San Jose), legislators must also pass Assembly Constitutional Amendment 3 by a two-thirds vote. This measure would allow the Legislature to impose a tax on all forms of personal property or “wealth.” As pointed out by the Howard Jarvis Taxpayers Association, that could include the appreciated value of real estate.

If it passes, on a majority vote — not the currently mandated two-thirds for new taxes — the Legislature could create a tax on the value of your home.

The Howard Jarvis Taxpayers Association is warning against another piece of legislation, Assembly Bill 362, which would require a study of disposing with California’s entire property tax system in favor of a land value tax.

The system is used to disincentivize holding on to vacant property in hope that its value appreciates. The tax applies to the value of the land, irrespective of what buildings or improvements are on it.

In practical terms, the owner of a vacant lot and the owner of an apartment building on adjoining, similarly sized parcels would have the same property tax bill. If you’d rather just keep your house, you could face an even higher bill since your home doesn’t generate as much “value” as high-density housing.

It’s only a study of such a system, but to people who believe that higher taxes shouldn’t be used to force people out of their property, it’s a dangerous road to start walking down.