In December, the process to put a measure on the ballot that would eliminate Proposition 13 protections for commercial real estate and create a split roll property tax in California was submitted to the Attorney General.
In an attempt to be clever and misdirect what the measure actually does, it has been entitled the “Protect Homeowners and Close Corporate Loopholes Act.”
Intended to be a proposition on the November ballot, this is just the first step of the process and it still has a ways to go before it goes before voters, including gathering the needed signatures, but we need to be aware that proponents are actively pushing the idea.
Among other provisions, the measure requires commercial property be reassessed every three years.
It is unknown who submitted the initiative but the language is similar to past measures sponsored by one of the largest public employee unions in the state.
As active members of Californians Against Higher Property Taxes, we are providing information and context about the harm that raising taxes on commercial properties would do to the economy, to the media, and policymakers. Click here to learn more about CAHPT.
Click here to read the proposed proposition.
Click here to read a news account of the measure.
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