16 Nov, 2009
2 Initiatives in California to Increase Commercial Property Tax
Posted by: Beach Reporter In: california| events
California Teachers Association is next in line seeking to add more expense to the cost of living and doing business in California. Not one, but two initiatives to change Proposition 13 and end tax protections for commercial real estate by enacting a Split Roll Property Tax were filed by the California Teachers Association (CTA). If qualified, one or both initiatives will appear on the November, 2010, statewide ballot.
One of the initiatives increases all commercial property taxes by more than half by adding a .55% tax on top of the existing 1% tax. The other requires continuous reassessment and bases taxation on current value.
Both measures have “sweeteners” thrown in to ostensibly make the campaign easier, like doubling the homeowners property tax exemption, doubling the renters tax exemption, and more exclusions for agricultural properties. CTA is filing these measures not only as a way to fully control the monies, but also as rhetorical devices for the campaign (“Vote for Prop X for class size reductions and to improve school safety!”).
Californians Against Higher Property Taxes and California Business Properties Association (CBPA) seek to educate key policy makers, public opinion leaders and the media about the problems of implementing a Split Roll Tax.
This proposed tax in only one of many to come. Recently California Parks Foundation announced they are seeking to add a fee of around $15 for every car you own and license in California, payable on an annual basis to fund their programs. California has some of the highest unemployment in the nation, around 7 of the 10 top cities in the U.S. for property foreclosures, and many citizens are homeless or live in poverty.
