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1972 – Over 45 years of service to the commercial industrial retail real estate industry – 2018.

2020 SPLIT ROLL MEASURE MUST BE DEFEATED

February 15, 2019

Rex S. Hime, President & CEO California Business Properties Association, has penned the following op/ed regarding the ongoing battle to protect Proposition 13.  You are highly encouraged to share this article and/or run it in your own publications:

Proposition 13 has been protecting taxpayers in California since 1978.  This measure created by Howard Jarvis is one of the only protections that you have against unimpeded increased in your property taxes – and now it is under serious threat.

Californians are some of the most heavily tax-burdened in the country. Now, special interests want to raise taxes by another $11 billion through this measure, despite record-high revenue, record-high per-pupil spending and $17 billion in budget reserves. A split roll property tax increase isn’t needed and will just make it more difficult to do business in California.

For years public employee unions and far-left wing advocacy groups have wanted to dismantle Proposition 13 in hopes of increasing your taxes to increase revenue for their members and pet spending projects.  Those groups have gathered enough signatures to place a measure on the ballot in November 2020.

One of the ONLY protections property owners in this state has is under serious threat and for thirty years – and now — I remain one of the primary people standing to fight back against this outrageous tax increase.

Under the 2020 proposal, Prop. 13 will be undone by mandating that all non-residential properties be reassessed to 2020 values and be reassessed every three years thereafter. Commercial property will lose certainty about future tax liabilities and one can only imagine the impact and cost to long time property owners that will see massive adjustments.

The proponents of this effort have stated that dismantling Prop 13 will result in an $11 billion tax increase on California’s property owners and employers.

Aside from the direct impact on properties, the State’s own Legislative Analyst’s office has warned that the proposal will introduce volatility into the state’s funding stream that puts everything from school funding to support and health programs for the elderly at risk.

Property taxes have been a reliably predictable revenue source for the state since prop 13 passed which allows for some predictability in budgeting and a reliable revenue stream.  The greediness of those that want to transfer property tax revenue to their own pockets threatens a system that has worked for more than 40 years!

As one of the longest standing taxpayer advocates in the state, I am coordinating an effort by taxpayer advocates and business groups alike to implement a statewide strategy and defeat this measure.  The campaign will be very costly and will take the efforts of many, but the costs of this tax are much greater.  Split roll inflicts a mortal wound on Prop 13 protections for all property owners and must be stopped.

Rex S. Hime has been protecting CA taxpayers his entire career. He has served as the President & CEO of California Business Properties Association for 35 years.

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