SAN FRANCISCO—Most of the tax-related ballot measures for the state and city passed in the last election, with the exception of Proposition 15. Recently, Allen Matkins partner Bill Ahern, associate Anosh Ali and associate Jared Kassan shared some insights into what the rejection and passage of these measures mean for commercial real estate at the local and state level.
GlobeSt.com: California voters were asked to consider a number of different tax-related state and local ballot measures. What proposition was the most contentious?
Kassan: Proposition 15 was the hardest fought campaign, which was narrowly rejected by voters. It asked voters whether to change, solely with respect to commercial and industrial property, longstanding property tax rules that generally limit a county's ability to tax real property based on its acquisition value plus an inflation factor.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
