I was confused by the number of “Protect Proposition 13” signs by Lynn Compton, so I looked into it to see how our local county supervisors could affect the existing tax proposition. It turns out, they can’t.
What is being considered, at a state level, is to possibly amend the current proposition to be able to reassess commercial property only and at the time of sale to a new owner. See the quote below from The Sacramento Bee.
“The new provision would allow a commercial property’s value to be reassessed when 90 percent of that property changes ownership in a three-year period. The new amendment would not include incremental changes such as the buying and selling of stock, however.”
Even the Howard Jarvis Taxpayers Association, the anti-tax group named for the champion of the 1978 measure, dropped its opposition to a bill that would clamp down on companies avoiding higher property taxes when they buy commercial real estate by using a corporate ownership maneuver.
Our local supervisors have no control over Proposition 13. So next time you see the signs, don’t fall for the fear tactics and focus on the real issues.