Prop 13

BILL WOULD UPDATE PROP 13: LARGE COMMERCIAL PROPERTY OWNERS WOULD PAY MARKET VALUE

By Miriam Raftery

June 10, 2015 (Sacramento)—Since 1978, Proposition 13 has frozen property taxes  for California owners until a property sells.  But now a proposed constitutional amendment would change Prop 13 to require annual assessments of large commercial and industrial properties.

The measure, Senate Constitutional Amendment 5,  exempts homeowners,  owners of rental residential properties and agricultural properties, which would not be impacted.   The measure also includes a tax break for small businesses, instead targeting larger commercial and industrial property owners for the tax hike.

The bill would exempt from taxation up to a half million dollars of personal property used exclusively for business purposes.  It also gives businesses an exemption of up to a half million for equipment and fixtures—an action that would eliminate the tax on equipment and fixtures entirely for 90% of businesses, whether they own or rent their place of business.

2 SPECIAL INTEREST-BACKED BALLOT MEASURES, PROPS 16 AND 17, LOSE

PROP 14, “OPEN” PRIMARY MEASURE, MAY FACE CONSTITUTIONAL CHALLENGES
 

By Miriam Raftery

June 9, 2010 (Sacramento) – Two ballot measures heavily backed by powerful utility and insurance industry money failed to win approval from voters. By narrow margins, Proposition 16 and 17 were defeated.  A third controversial measure, which would eliminate party primary elections, won passage by voters but may face legal challenges in court.