Daily Tax Report ®

Business Property Tax Measure Heads to California Voters

May 29, 2020, 7:56 PM

California voters will decide in November whether commercial properties should be annually assessed at market value as part of an effort to raise at least $7.5 billion a year for local governments and schools.

Secretary of State Alex Padilla (D) said Friday that backers of the measure had submitted more than the 1.09 million valid signatures required to qualify for the November 2020 statewide ballot.

  • The measure would upend the voter-approved property tax system in place since 1978 that caps assessments at 1% of the purchase price, with minor annual adjustments for inflation.
  • Labor groups including the California...
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