The defeat of Proposition 15, the state’s largest tax initiative, is indicative of California’s strong preference for economic growth and small businesses. If approved, Proposition 15 would have raised taxes for thousands of local small businesses, while increasing the cost of living for everyday consumers. Fortunately, Proposition 15’s decisive defeat is a strong message to …Read More
In response to the COVID-19 pandemic’s drastic impact on local tax revenue, the Culver City’s City Council voted 4-1 voted to play a tax proposal on the November 3 ballot. Voters would follow suit, with Measure RE being narrowly approved at just a margin of 819 votes. BOMA/GLA opposes this measure, as we believe the tax places an unfair onus on property owners …Read More
Last Wednesday night, the Associated Press officially called the results of Proposition 15. Proposition 15, the largest property tax increase in California history, was defeated last night by a margin of more than 550,000 votes! This ends a challenge to dismantle …Read More
According to the Los Angeles County Tax Assessor, you may be eligible for Misfortune or Calamity Property Tax relief if your property has been damaged by a natural disaster or other unforeseeable, sudden, and unusual occurrences. Filing a claim will temporarily reduce the assessed value of your property – and your property taxes. Granted, these values will remain in effect until …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
Visualizing the Huge Cost of Proposition 15 BOMA/GLA Education Proposition 15, still not approved by voters, could cost property owners millions. 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 value, which is constantly increasing every year. As…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