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Thread: California Tax on Commercial and Industrial Properties for Education and Local Government Funding In

  1. #251
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    Re: California Tax on Commercial and Industrial Properties for Education and Local Government Fundin

    Quote Originally Posted by eman623 View Post
    I don't have a problem with subjecting commercial and industrial properties to market value tax valuation. A corporation is potentially immortal and there are companies still around today who got the tax rollback in 1978 and 42 years later are still paying a fraction of the property taxes that the building next door might be paying simply because that business came in later. And it would only get worse. After 50 or 80 or 100 years, the imbalance in relative property taxes would grow to absurd proportions.

    Prop 13 was sold as a fix for seniors on fixed incomes losing their homes to skyrocketing property tax rate increases. Not to give businesses that happened to be here in 1978 a tax advantage over those that came later.
    This will also free up a lot of land. Why would a company like a Raytheon have a large campus in high cost LA. Increase their property taxes and give them a strong motive to move. Frees up space for affordable housing for the homeless.

  2. #252
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    Re: California Tax on Commercial and Industrial Properties for Education and Local Government Fundin

    Quote Originally Posted by washunut View Post
    This will also free up a lot of land. Why would a company like a Raytheon have a large campus in high cost LA. Increase their property taxes and give them a strong motive to move. Frees up space for affordable housing for the homeless.
    The affordable housing for the homeless argument is weak, but I agree with the rest of your comments. It's arguably better for Raytheon too. They are essentially trapped in a gilded tax cage and have a "perverse incentive" to remain in that location even if moving to a different city or state where labor costs are cheaper might make more sense.
    "You are free and that is why you are lost." - Franz Kafka

  3. #253
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    Re: California Tax on Commercial and Industrial Properties for Education and Local Government Fundin

    Quote Originally Posted by eman623 View Post
    The affordable housing for the homeless argument is weak, but I agree with the rest of your comments. It's arguably better for Raytheon too. They are essentially trapped in a gilded tax cage and have a "perverse incentive" to remain in that location even if moving to a different city or state where labor costs are cheaper might make more sense.
    Oof, hell of an idea. Let's literally target corporations to push them out. You realize that corporations are amazing tax citizens for localities, right? All that property tax with almost no associated expense.

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