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What Split-Rolling Prop 13 Will Mean for CRE Owners

A new measure to split-roll Prop 13 will appear on the November 2020 ballot, and commercial property owners are raising $100 million to defeat it.

Los Angeles Los Angeles

A new measure to split-roll Prop 13 is set to appear on the November 2020 ballot. If passed, the measure would remove some of the tax protections and limitations for commercial and industrial property owners. The intention behind the measure is to increase tax funds for in-need services.

“The movement is driven by the notion that Prop 13 reform will result in a more equitable tax structure for businesses and raise revenue for education and state services,” Michael Diaz, managing director and western regional leader of property tax services at Newmark Knight Frank, tells GlobeSt.com. “Teacher and various labor unions are supporters of the proposed reform.”

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Kelsi Maree Borland

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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