Patricia Bates (Laguna Niguel), which would continue the protection against tax increases for intergenerational transfers of property until February 16, 2023. They would chip away at Proposition 13 until it is all gone.HJTA is sponsoring Senate Bill 668, introduced by Sen. Protections and to raise taxes on apartments and homes. Initiative is successful, its proponents will continue to assault Proposition 13, not directly with an attempt at repealing Prop. In recent decades there have been a number of attempts to attack Proposition 13 and create a “split roll.” So far, all such efforts have failed. California has had a single or “unified” roll, treating all property the same, since the 1800’s! Proposition 13 didn’t change that. Just as bad, the “split roll” would makeĬalifornia’s brick-and-mortar businesses increasingly uncompetitive with online businesses based in other states, where costs are far lower, and would accelerate business flight out ofĪdvocates of a “split roll” say it merely closes a “loophole.” They maintain that voters never intended Proposition 13 to apply to commercial property, but this isn’t When their costs go up, so do the prices you pay for goods and services. The cost of living, already high in California, would be pushed even higher by this huge tax increase, which would hit every business in the state at the same time.ĭon’t be fooled when “split roll” advocates say that it just hits businesses. Sharply as a result of tax increases passed through from landlord to tenant. Even very small businesses that lease space in a strip mall would see their operating costs jump
HOWARD JARVIS TAXPAYERS ASSOCIATION MOVIE
This would be a massive tax increase on office buildings, retail stores, shopping malls, movie theaters, gas stations, supermarkets, factories, warehouses, self-storage facilities, autoĭealerships, car washes, restaurants, hotels and every other job-creating business in the state. The initiative would revoke Proposition 13’s protection from nonresidential business and commercial property and require the reassessment of those properties to fair “California Schools and Local Communities Funding Act,” but what it would do to California’s economy isn’t friendly at all. Proponents have given this initiative the friendly title, In 2018, a “split roll” proposal garnered enough signatures on petitions to be eligible for the 2020 ballot. Limits increases in the assessed value to 2 percent per year or the rate of inflation, whichever is lower, until the property changes ownership again. The tax rate is 1 percent, and the assessment is set at the property’s fair market value, usually the sale price, at the time it changes ownership.
Under Proposition 13, which became part of the state constitution when voters approved it in 1978, all property in California is assessed under the same rules and
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Do You Know How To Read Your Property Tax Bill?.