Proposition 13 is broken. Annually reassessing commercial properties will fix it.
[Editor’s note: this is part one of a two-part series debating Proposition 13 in light of a possible ballot measure in 2020 to “split the tax roll” by changing the commercial property tax provisions and leaving residential tax assessments as is.] Overview Proposition 13’s promise of helping residential property owners remains unfulfilled 41 years after its passage. By freezing property tax rates on commercial properties, Proposition 13 shifted California’s property tax burden from commercial to residential properties. This has harmed consumers and contributed to tax inequality, while delivering windfalls to corporations. By reinstating annual reassessments on commercial properties, voters could...
