As many predicted, 2020 will be the year not only of the Gas Tax repeal initiative (an anti-tax initiative); but also the year that Proposition 13 may be impacted by a pro-tax initiative. Various groups have lined-up to push some type of reform to Proposition 13 and the most likely result is that Californians will end up with a “split-roll”. In other words, commercial property owners will have property taxes reassessed each year based on current values, whereas, residential home owners who live in their homes will likely continue to benefit from Proposition 13’s protections. Stay tuned as this may be one of the most expensive ballot initiatives ever placed on the ballot.
