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.
Never miss a local story.
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.