SPLIT ROLL PROPERTY TAX

There has been a lot of activity on Split Roll Property Tax in the past few weeks.  The proponents of removing Proposition 13 protections from commercial property have opened up several paths of attack, including an effort to gather signatures for a proposition, introducing a bill in the legislature, a full-on media effort, and requesting that local city councils and school board endorse these efforts.

Many of our members are worried – rightly so – and have asked what they can do the help push back against these efforts.

First of all, as leaders of our industry, we ask that you be aware of what is happening so you can educate colleagues, clients, and policymakers that you know.

Secondly, and most importantly right now, we ask that you donate to the effort to protect Proposition 13 through the efforts of California to Stop Higher Property Taxes.

Our industry is being looked at for $9 billion in additional ongoing taxes.  If we can just raise one percent of that amount to protect ourselves we can be successful.  How much would a split roll impact your portfolio?  Can you invest just one percent of that ongoing increase to stop it?

To that end, this week’s alert is focused on issues related to split roll.

 

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