Friday, May 22, 2009

Split Roll Tax Study Shows Idea Hurts Economy

In light of the recent rejection of the revenue measures by the state’s voters, some political leaders, including our local Assessor/Recorder Phil Ting, are calling for more taxes, this time in the form of split roll property taxes. This is a bad idea, and one that will not help the state’s economy nor “fix” its budget deficit. In fact, a study was completed last year that examined the potential economic factors surrounding implementing a split roll tax and determined it would not be productive. Click here to read the study entitled "The Economic Effects of California Adopting a Split Roll Property Tax."

BOMA California is a member of Californians Against Higher Property Taxes, whose mission to educate the public and policymakers about the devastating impacts of higher property taxes. Although the idea of higher property taxes is very unpopular with voters and has been rejected time and again, some policymakers and advocacy groups continue to push the issue as a means of raising additional state tax revenue. This study shows that such proposals for property tax increases will only hurt California consumers and further damage our state’s struggling economy.

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