As we have posted previously, BOMA is opposed to the proposal, brought about by our local Assessor/Recorder Phil Ting, of a split roll property tax. It is truly a bad idea, one that will have long-term economic ramifications in California.
The California Assessors' Association has issued a white paper expressing their concerns of a split roll property tax. You can read the report, here.
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Ken and John,
ReplyDeleteThanks for posting this report. I agree with my colleagues that we could implement a split rate or a split inflation rate. Look forward to talking to BOMA SF in July and engaging in a lively discussion.
Phil
Phil:
ReplyDeleteOur members look forward to talking with you about the split roll tax issue in July. Also, thank you for taking the time to read the report.
It's important to recognize the economic impact of implementing a split roll property tax in California. Increasing property taxes on businesses would, among other issues, decrease job creation, limit business investment in new technologies, disproportionately effect small businesses, and have a socioeconomic impact on the California population at large (e.g., higher costs of goods and services to consumers).
Lastly, to clarify, the California Assessors’ Association wasn’t supporting a split roll or a split tax rate. The association’s white paper was specifically reviewing the “adverse impacts, to varying degrees, [of an] Assessor’s ability to annually close the assessment roll on time in a manner consistent with professional standards and state law.”
Ken Cleaveland and John Bozeman