Split Roll Property Tax Discussion Highlights Tax Commission Meeting
Taxing commercial property was the focus of the Commission on the 21st Century Economy in its fourth meeting, this one held at UC Davis yesterday. Commercial property and residential property are taxed the same under the provisions of Proposition 13. However, some advocates want to see the property tax roll “split” into at least two categories with residential and commercial property treated differently.
What a split roll would mean to the California economy and how business and commercial property have faired since the passage of Proposition 13 in 1978 depended how one reads the economic landscape. CSU Professor Terri Sexton said that residential property has taken on a greater share of the property tax burden in the last thirty years, although she admitted that could simply be the product of more residential home building or homes turning over during that time.
On the other hand, former Legislative Analyst William Hamm said there was no evidence of a property tax shift to homeowners. He argued that the ratio of assessed value to market value was higher for business property meaning that business properties are assessed closer to the full market value than residential properties.
Let’s Print Our Own Money
There’s a report in USA Today about communities all over America printing their own “currencies” to help their citizens ride out the recession. The paper they pass around with nicely designed pictures of local icons, represents hours of community service people can trade for goods and services, or special discount coupons for local only businesses and residents.
Sounds like something California should take a look at:
1) Arnies – Jumbo-sized large bills with Mr. Universe statue, lightning bolts grasped in one hand and the other open-palmed looking for a handout. Bills can be used to buy California bonds to be redeemed in the next life or stuffed into paper bags to pay new higher taxes.
2) Jerrys – Crumpled old pieces of paper with side-by-side pictures of Linda Ronstadt and Mother Teresa. Usable to purchase historic Grateful Dead tickets. Motto to read: “Who me, Jerry?” New edition to be released shortly features Jerry smiling.