A 1993 report from the joint University of California and State of California research program, California Policy Seminar (now the California Policy Research Center), said that a property tax system based on acquisition value links property tax liability to ability and willingness to pay and has a progressive impact on the tax structure, based on income. It said that a revenue-neutral Los Angeles County reform which raises all assessments to true market value and lowers the property tax rate would harm elderly and low-income households.