PROPOSITION 13; ASSEMBLY HEARING THIS MONDAY

The Assembly Revenue and Taxation Committee will hold an informational hearing this Monday, April 8 to discuss issues related to Proposition 13, Change of Ownership, Property Tax Vote Thresholds, and Parcel Tax Issues.  There are currently nine bills in the Legislature that are targeting Proposition 13 and this hearing will be an opportunity to engage new and returning legislators about how important the law is to both residential and commercial property owners and tenants.

The Committee is chaired by Assemblymember Raul Bocanegra (D-Los Angeles) and the Vice Chair is Assemblymember Brian Dahle (R-Bieber).  The committee has a total of six Democrats and three Republicans.  If you have a relationship with any of the committee members, we hope you can speak with them and explain why eliminating your Prop 13 protections would be a bad idea.  Click here for the committee membership.

The hearing begins at 1:30 p.m. on April 8.  You can hear an audio feed of the hearing by clicking here.

Several representatives of commercial real estate will be at the hearing and ready to testify.  Rob Cord, Managing Director of Real Estate Management Services, Voit Real Estate Services, a former BOMA California President, former NAIOP of California Board Member, ICSC member, and current CBPA Board Member, has been invited to provide formal testimony to the committee with regards to how a split roll property tax would impact commercial real estate.

The committee will hear an “Overview of Local Government Tax Authority” from the Legislative Analyst’s Office.  Then a panel which includes several college professors, a representative from the League of Cities, and the CA Executive Director of NFIB, will discuss the impacts of “General Taxes, Special Taxes, and the Supermajority Vote Requirement.”

Prior to closing the hearing with public comments, the committee will hear from a panel that will discuss the “Policy Implications and Proposals for Reform.”

This should be a very informative hearing.

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