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New Culver City Tax Will Cost Commercial Property Owners Millions

Culver City

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 …

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Proposition 15 is Defeated!

Proposition 15

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 …

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Property Tax Relief Available for Civil Unrest Damages

tax relief damages

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 …

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Tell Your Friends – Proposition 15 Will Increase Cost of Living and Reduce Government Services

Proposition 15

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.

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Visualizing the Huge Cost of Proposition 15

Proposition 15

Visualizing the Huge Cost of Proposition 15 Elections, Taxes 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…

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Proposition 15 Puts Education Last

Proposition 15 Split Roll education

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 …

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Prop. 15 Will Worsen The Housing Crisis

Real Estate Sale

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 …

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Proposition 15 Lacks Government Transparency And Accountability

transparency and accountability

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 …

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Tell Your Tenants: Proposition 15 will Raise their Rent

Proposition 15 Hurts Small Businesses

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 …

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