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State Sens. Holly Mitchell and Loni Hancock on Wednesday held a news conference on their bid to amend California’s constitution and undermine California’s Proposition 13.
SCA 5 would assess commercial and industrial properties at their market value, stripping away property tax protections under the state’s landmark law.
Under this split-roll, it appears residential property, such as rental housing, would retain the tax protections offered by the 1978 voter-approved proposition.
Getting Mitchell and Hancock’s measure before voters in 2016 would first take approval by a two-thirds majority in the state Legislature.
Support for splitting the tax roll in California, however, has… Read More
Tagged: LegislationTaxes
A Proposition 13-related bill that would have closed a change-of-ownership loophole died in the Legislature last week.
Assembly Bill 2372 failed Thursday in the Senate Appropriations Committee.
“I’m disappointed that we came so close to finally closing one of the worst loopholes of Prop. 13,” the bill’s coauthor, Assemblyman Tom Ammiano, D-San Francisco, said in this Los Angeles Times article. “We finally had some business interests agreeing that the structure was unfair.”
Coauthored with Assemblyman Raul Bocanegra, D-Pacoima, the revised bill would have triggered reassessments following the sale of commercial property whenever 90 percent of the property is sold over… Read More
Tagged: LegislationTaxes
With California court systems cutting back, both tenants and landlords will face more waiting, longer drives, and no matter how you slice it, more hassle.
The following two articles – one a story in the Los Angeles Times, the other a column by an attorney at Fast Eviction Service – zero in on the impacts on renters and owners, respectively.
Feel free to add your comments, including experiences.
Tagged: ColumnsCourtsIn the news