commercial properties: Removing Commercial Real Estate from Prop 13 Protection is Simply a Bad Idea for Businesses - 06/12/09 02:37 PM
California voters recently rejected state budget measures intended to shore up our declining budget, which has stirred up talk about the need to revisit overturning Proposition 13, particularly with commercial properties. But removing commercial real estate from Proposition 13 protection may have many unintended negative consequences for business owners.
Supporters of overturning Proposition 13 have used Bank of America to illustrate the potential revenue loss to the state of California. They suggest that Bank of America owns many branches that were purchased years ago at rates way below current market value, therefore they are taxed at a rate far below their … (0 comments)

 

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