Democrats propose Proposition 13 overhaul for businesses

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http://www.smdailyjournal.com/articles/bnews/2015-06-10/democrats-propose-proposition-13-overhaul-for-businesses/1776425144841.html

California businesses would pay billions more in property taxes under a longshot bid by two Democratic lawmakers to unravel some of the voter-approved tax limits in Proposition 13.

A coalition of unions and liberal groups joined state senators Wednesday to support a constitutional amendment that would roll back property tax limits on some companies and real estate owners.

Voters approved Proposition 13 in 1978 to curb the rise of property taxes on homes and other real estate. The proposed amendment, SCA5, would require commercial and industrial properties to be taxed at regularly assessed values, not just values assessed when buildings and land change ownership. Some businesses are able to avoid property tax increases through corporate restructuring.

“We have large corporations and property investors that have used loopholes in the law to avoid paying their fair share,” Sen. Holly Mitchell, D-Los Angeles, said at a news conference with her co-author, Sen. Lori Hancock, D-Berkeley.

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[KamaAina]

1. Oh hell yeah!

That's part of my tax fairness package as well. The other part is to apply the sales tax fairly, to services as well as goods. One-percenters spend a hell of a lot more on services than real people do: lawyers, accountants, even plastic surgeons. And yet we fail to tax them. The sales tax is regressive enough as it is without applying it in this regressive manner.

Remember, vote the KamaAina Party. Don't let the Hawai'i flag fool you. Just do it!

[TDale313]

2. Sounds good to me.