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Increase in taxes to come?

8/10/2015

 
Picture
by Marva Bledsoe, Business & Community Political Action Committee (BACPAC)

“Prop 13” is very near and dear to California property owners.  Since its passage in 1978, talk of change to the law consistently raises the ire of state tax payers.

Jeff Wyly from Merdian, a nationwide political consulting and public affairs firm, recently reported to the Chamber’s Emerging Issues Committee that the idea of a “split roll property tax” change to “Prop 13” is again under discussion in committee at the state legislature. 

What does a “split roll property tax” mean?  

According to the California Taxpayers Association, California’s current system of property taxation under Proposition 13 uses an acquisition-value standard: county assessors determine a property’s value when it goes through a change in ownership or undergoes new construction, and tax is assessed at 1 percent of this value, plus a rate for voter approved indebtedness. Thereafter, the taxable, or assessed, value of property may increase annually by the lesser of the rate of inflation or 2 percent.

Under a “split roll property tax”, not all properties on the assessment roll are treated equally. For example, split roll may require businesses to pay property taxes at a rate higher than the rate imposed on homeowners.  Under the discussions currently underway at the State legislature, commercially or corporately owned property (with multi-family residential units exempted) would be reassessed every year to market rate taxes.

While these discussions may not go anywhere this time, “Prop 13” continues to be a lighting rod for those who are looking for ways to increase state tax revenues.  And, in the end, changes will mean business will end up paying more.

The Oceanside Chamber of Commerce is on record in opposition to “split roll property tax” and continues that position today.

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Copyright © 2022 Oceanside Chamber of Commerce
928 N. Coast Highway | Oceanside, CA 92054
Tel 760-722-1534 
info@oceansidechamber.com
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Picture
  • Oceanside
    • About Oceanside >
      • History of Oceanside
      • Demographics
      • Arts and Culture
      • Education
      • Employment
      • Health Care
      • Religious Organizations
      • Local Government and Services
      • Retiring in Oceanside
      • Oceanside Maps
    • Visitor Information >
      • Beaches
      • Accommodations
      • Groups and Meeting
    • Things to Do >
      • Oceanside Events >
        • Downtown History Walks
        • Farmers Market
        • Sunset Market
      • Shopping >
        • Coupons
      • Dining
      • Surfing
      • Regional Attractions
    • Volunteer Opportunities
  • Business Directory
    • All Categories
    • Coupons
    • New Members
  • Media
    • Advancing Oceanside Podcast
    • Blog
    • Member News
    • E-Newsletter
    • Publications >
      • Advertising Your Business
      • Best of Oceanside Magazine
      • Annual Community Guide
      • Military Publications
  • Chamber
    • Membership >
      • Member Portal
      • Membership Packages
      • Application
      • Testimonials
    • Advocacy >
      • Chamber Political Action Committee
      • Public Policy Guidelines
      • The Advancing Oceanside Report
    • Our Work >
      • 2021 Annual Report
      • 2023 Strategic Priorities
      • Committees - Task Forces - Forums
      • Oceanside Young Professionals
    • Economic Recovery >
      • 2021 Small Business Grant Program
      • 2020 Shop Local Oceanside
      • 2020 North County Cares Program
    • Workforce Development >
      • SOCAL Workforce
    • Kindness
    • Oceanside Leadership Academy
    • Our Team >
      • Board of Directors
      • Chamber Staff
    • Privacy Policy
  • Events
    • Signature Chamber Events >
      • Armed Forces Day Operation Appreciation
      • Heroes of Oceanside and Camp Pendleton
      • Meet the City of Oceanside
      • North County Health Fair
      • Oceanside Senior Expo
      • Rising Star Student Program
    • Monthly Chamber Events
    • Oceanside Community Events
  • Resources
    • Local Business Resources
    • Military Resources