Read Article from LA Times about the Split Roll Tax Initiative and how it will impact California

*Provided by the Los Angeles Times

“A big battle over property taxes in California is shaping up for the 2020 ballot.

Supporters of a bid to increase taxes on commercial land announced Tuesday they’ve collected more than 860,000 signatures to force a vote on the issue in two years.

‘This is a defining moment for California,’ Fred Blackwell, CEO of the San Francisco Foundation, said in a statement. ‘Closing the commercial property tax loopholes is important to our state.’

Backers, including the California Federation of Teachers, the League of Women Voters and community organization California Calls held news conferences Tuesday in Los Angeles, Berkeley, Fresno, San Diego and San Bernardino to demonstrate support across the state for the idea. Of the signatures turned in to the secretary of State’s office, 585,407 must be deemed valid for the measure to qualify for the November 2020 election.”

Read the full article here:

2018-08-14T16:09:33+00:00August 14th, 2018|CALED News, Econ Dev News|