Taxpayer Protection Measure Withdrawn From November Ballot
The statewide ballot measure that many in the commercial real estate industry viewed as an opportunity to reform California's tax landscape has been withdrawn from the November 2026 ballot following a last-minute agreement between state leaders and the measure's sponsors.
For BOMA/GLA and many property owners, managers, and investors, this is a disappointing development.
The original measure would have limited local real estate transfer taxes and made it more difficult to adopt certain future tax increases.
Because of its potential impact on transfer taxes, many supporters believed it could have provided a pathway to challenge or limit measures such as Los Angeles' Measure ULA.
Instead, the negotiated agreement removes those provisions from consideration this November in exchange for placing a more limited constitutional amendment before voters.
What You Need to Know
The proposed statewide tax reform measure has been withdrawn and will not appear on the November 2026 ballot.
The measure would have significantly changed how local taxes are approved and could have affected high local real estate transfer taxes, including Measure ULA.
A narrower constitutional amendment addressing certain local tax approval rules will appear on the November ballot instead, but it does not include the transfer tax reforms contained in the original proposal.
How It Impacts You
For commercial real estate, the withdrawal means existing local transfer taxes, including Measure ULA, remain unchanged for now.
Many property owners and industry organizations had supported the initiative as an opportunity to reduce barriers to investment, encourage transactions, and improve California's competitiveness.
While this outcome is disappointing, discussions surrounding tax policy, local revenue measures, and commercial real estate investment are far from over.
BOMA/GLA will continue advocating for policies that promote economic growth, encourage investment in commercial properties, and reduce unnecessary barriers to development and reinvestment.
We will continue keeping members informed as new legislative and ballot proposals emerge that could affect commercial real estate across California.
