If passed, Proposition 15 (the so-called Split-Roll initiative) could saddle commercial property owners and occupiers with up to an estimated $11.5 billion increase in property taxes to increase spending on local government, K-12 education and community colleges.
In this second installment on the election, we focus on just a few of the Democratic challenger’s proposed tax increases that could substantially impact business and investment decision making going forward.
The quote “elections have consequences” is credited to former President Obama. It rings true no matter what side of the political spectrum you fall on, and it will certainly be the case in November given the increased polarization of America’s political discourse that we are now all experiencing.
At least once every year, we make a point of reminding you just how important it is to weigh in on how changes in our economy and the local commercial property market could play into or work against your current facilities/investment strategy.
A look at the potential cost impact of the proposition to tenants, owner/users and investors, along with how commercial property values are likely to be effected.