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Split Roll Tax, Devastating Setback to CA

SACRAMENTO-It would commercial property at higher rates than residential, reassess commercial property more frequently and allow new real estate taxes to be approved by only 55% of voters instead of the currently required two-thirds, says a source in this EXCLUSIVE Q&A.

By Natalie Dolce | Updated on August 02, 2013

SACRAMENTO-There is a growing movement among some Sacramento legislators to raise new revenues by increasing the property taxes on commercial real estate owners. This is the Split Roll Tax. Split roll is the term for any attempt to pull commercial real estate out from under the protections of Proposition 13. If enacted, this aggressive tax increase would have a devastating impact on California’s economy.

According to a recent Pepperdine University study, a split roll tax would increase property taxes on businesses by an estimated $6 billion annually. NAIOP SoCal, as part of its commitment to be the voice of commercial real estate development in Southern California, has made this issue a legislative action priority due to its potentially devastating consequences for the commercial real estate industry and our local economy.

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