FOR IMMEDIATE RELEASE: June 10, 2015
CONTACT: Jacqui Nguyen @ (916) 651-4029
Split Roll Tax Would Cripple Businesses in the Golden State
SACRAMENTO – Senate Republican Leader Bob Huff (R-San Dimas) responds to the “split roll” property tax proposal, formally known as Senate Constitutional Amendment 5 (SCA 5), describing it as a job killer for businesses that would drive many out of California.
If SCA 5 (Hancock-D and Mitchell-D) goes before voters and passes, it would weaken Proposition 13 by taxing commercial properties according to their market value but leaving limits on residential properties intact. By doing so, the property taxes on commercial and industrial properties would skyrocket. Voters passed Proposition 13 in 1978 by a nearly two-thirds vote. Since then, the measure has reduced property taxes on homes, businesses, and farms by about 57%. Continue reading