With the COVID-19 pandemic disrupting in-person voting, mail-in ballots are becoming an important alternative to the 2020 election. However, with millions of voters voting by mail, many severe processing issues could arise. And with such an important election at stake, including Proposition 15 …Read More
Visualizing the Huge Cost of Proposition 15 BOMA/GLA Education On November 3rd, California voters will vote on Proposition 15, potentially the largest tax increase in California history – ever. In short, Proposition 15 seeks to end Proposition 13 protections for property owners. Under this tax regime, commercial property owners would be taxed based on market…Read More
Proponents of Proposition 15 cite classrooms as the main reason for taxing local properties and businesses. Unfortunately, Proposition 15 actually places education last in line. Most commercial real estate and business organizations are not …Read More
It’s no surprise that Californians are leaving the state in record numbers. Due to rising rent, cost of living, and taxes, California is becoming less affordable for many Americans. Despite this, legislators are supporting Proposition 15, a ballot measure that would create higher …Read More
California stands out in the US as a highly desirable place to live. However, the cost of living is anything but desirable.
In 2019, Los Angeles was voted by the Economic Intelligence Unit to be the tenth most expensive city to live in. Five years before the city was tied with New York City for 39th. California’s growth is producing higher wages and new industries, but those opportunities come with a hefty price tag.
In November, voters will decide a $7 billion bond measure to pay for continued modernization projects in the Los Angeles Unified School District. The measure proposes to use general obligation bonds to build new classrooms, and repair and improve existing classrooms to meet the technology needs of students. It would not increase property taxes but continue the existing tax rate …Read More
As we’ve highlighted on our site, Proposition 15 will do much to hurt businesses and families across California. With that being said, more attention should be focused on how Proposition 15 will not do much to help schools and classrooms. In fact, while special interests are using Proposition 15 in the name of school improvement, it will mainly prioritize administrative costs …Read More
In the conversation regarding Proposition 15, most people pay attention to how a Split Roll tax regime would raise property taxes and hurt businesses in California. While the economic impacts of Prop. 15 are important to note, more attention needs to be placed on how Split Roll will affect families and important government services. Namely, Proposition 15 will increase basic costs while reducing available revenue for government programs.Read More
Amid an unprecedented economic crisis, special interests are pushing Proposition 15 on the November 2020 statewide ballot that will undo Proposition 13’s property tax protections. In short, this will be the largest property tax increase in California history. However, most relevant to the commercial real estate industry is Prop. 15’s impact on commercial tenants throughout California …Read More
In response to the COVID-19 pandemic’s drastic impact on local tax revenue, the UCLA Lewis Center for Regional Policy Studies proposed an effective $760 million increase on real estate transfer taxes across Los Angeles. In the same fashion, the Culver City’s City Council voted 4-1 to place a tax increase modeled after the Lewis Center’s proposal on the November 3 ballot. To be sure …Read More