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Loni Hancock

Lawmakers push to scrap Prop. 13 tax limits for factories and business

Lawmakers push to scrap Prop. 13 tax limits for factories and business

Saying a major “loophole” allows some business to unfairly avoid paying billions of dollars in taxes, two Democratic state senators on Wednesday filed a proposed constitutional amendment to revise Proposition 13, the landmark property tax initiative approved by California voters in 1978. The so-called split-roll proposal would require the regular reassessment of commercial and industrial properties, including factories, office buildings and other business property, to market value, while keeping current tax limits in place for residences and agricultural property. Sens. Loni Hancock (D-Berkeley) and Holly Mitchell (D-Los Angeles), authors of the measure, said the change, if...

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