Property Tax Resources

California Property Tax Updates

UPDATED september 2018

Vote on Split Roll Initiative Postponed to 2020 Election

Proponents of a voter initiative measure to take Proposition 13 protections away from commercial property owners have decided to put the measure off until the November 2020 election. The proposed measure would require all commercial properties to be re-assessed at current market value at least one time every three years, thereby creating a “split roll” with commercial properties being assessed differently from residential properties. Under current law, Proposition 13 sets the value of commercial properties at their purchase price (or cost of construction), and the values are trended upward by a maximum of 2% in each subsequent year. The proposed initiative measure would not change the way in which residential properties are assessed – those properties would remain under Proposition 13. The planned initiative is opposed by many California county assessors as it would significantly increase the workload of assessor’s offices due to the annual reassessment requirement for commercial properties. Taxpayer organizations are expected to organize in opposition to the initiative measure next year.

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Greenberg Traurig, LLP
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