Business groups in Los Angeles, including BOMA Greater Los Angeles, have joined together to denounce Mayor Villaraigosa’s recent call to dismantle Proposition 13 protections for commercial real estate to create a split roll that will increase the property tax burden on all businesses. The letter reads, in part:
“Even more disconcerting is the fact that you suggested raising taxes on commercial and business properties as just the first change to Proposition 13. Homeowners across the state would undoubtedly be next. You said the trick is to convince voters that higher property taxes are in their self-interest — voters know better, higher taxes mean higher prices. They know that if we want to see jobs return to California, we need to focus on policies that create them, not destroy them.”
Click here to see a copy of the letter.
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