COMMERCIAL REAL ESTATE TAXES STATEWIDE

A recent study by CalTax (“Proposition 13 Revisited” – based on data from the State Board of Equalization) found that non-homeowner occupied property subject to Proposition 13 assessment limits accounted for 60.26% of the tax burden in 2011-12, up from 58.16% in 1979-80 (after passage of Proposition 13).

In terms of total dollars, in 2011-12, all business and non-homeowner occupied property subject to Proposition 13 assessment limits had an assessed value of $2.49 trillion (an average increase of 7.5%), while homeowner-occupied property had an assessed value of $1.64 trillion (an average increase of 7.2%). Both of these increases surpass the rate of inflation, meaning that income collected from property taxes is actually increasing over time.

These numbers – provided by the State of California – clearly show that the property tax burden has not shifted to homeowners and in fact, the measure continues to greatly benefit them.

Click here to read the full report.

© 2007-2012 Building Owners and Managers Association of California (BOMA Cal)