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Tax-Related Exodus From CA May Be Overblown

Much has been discussed about the relatively less-favorable tax treatment for residents in high-tax states incentivizing moves to lower-tax locations, but Wells Fargo’s Daniel Adams tells GlobeSt.com that a lot of this has been exaggerated.

Adams says, “Some great advantages that were more relevant for Californians, such as the $500,000 capital-gain exclusion for sale of principal residence, are still there.” ***Photo courtesy of www.SeniorLiving.org. Adams says, “Some great advantages that were more relevant for Californians, such as the $500,000 capital-gain exclusion for sale of principal residence, are still there.” ***Photo courtesy of www.SeniorLiving.org.

SAN DIEGO—Much has been discussed about the relatively less-favorable tax treatment for residents in high-tax states incentivizing moves to lower-tax locations, but Wells Fargo’s SVP and business-banking area manager Daniel Adams tells GlobeSt.com that a lot of this has been exaggerated. Adams recently moderated a panel presented by the Commercial Real Estate Association of San Diego titled, “Changes to the Tax Code: A Boon or Bust for Commercial Real Estate?” Afterward, we got his take on how the tax code is expected to impact CRE and how the market will react to these changes.

GlobeSt.com: What changes to the tax code will affect the commercial real estate industry?

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Carrie Rossenfeld

Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

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