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California Proposition 15 – Beyond the Health Crisis Special Report

September 3, 2020 by Marcus & Millichap Research Services

Split Roll Tax on California’s November Ballot Has Potential to Significantly Reshape Local Real Estate

Proposition 15 has the potential to be the largest commercial real estate tax increase in state history as properties are reassessed every three years rather than at point of purchase. Current law limits property tax to 1 percent of assessed value in 1976 and increases can be no greater than 2 percent each year.

Key Features Include:

  • Tax could double for properties owned for 20 years
  • Apartments and other residential properties excluded from the initiative
  • Between $8 billion and $12.5 billion could be raised

View Report

Filed Under: Special Report

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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2020 Marcus & Millichap and Limon Net Lease Group

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