Make It Fair Town Hall on October 7
Prop 13 Reform – Make It Fair Town Hall on October 7
Featured Speakers: State Senator Holly Mitchell and Torie Osborn, Deputy to Supervisor Sheila Kuehl
October 7, 10AM – Noon
Los Angeles Trade Technical College
2215 S. Grand St., Los Angeles, CA 90007
Did you know that the land that Disney Headquarters sits on is assessed at $5.49/square foot, while the land for a house across the street is assessed at $39.12 per square foot? And that as long as Disney Corporation continues to own that land, that assessment will increase only by 2% per year?
People who voted for Proposition 13 probably never expected that large corporations would be the biggest beneficiaries. Non-residential commercial property now accounts for only about 28% of property tax revenue in the state of California. If commercial property was reassessed on a regular basis, that would mean more than $9 Billion per year in additional revenue for school districts and local governments.
The League of Women Voters of California is part of the Make It Fair Coalition, which is advocating for Proposition 13 reform by establishing a “split roll” requiring regular reassessment of commercial properties.
Come find out more about this effort by attending the Town Hall on October 7.