California Democratic lawmakers recently introduced Assembly Constitutional Amendment 11 (“ACA 11”) which proposes to abolish the State Board of Equalization (“BOE”) and reassign its responsibilities to other state tax...more
In the City of Los Angeles, Measure ULA will impose an additional city real estate transfer tax of 4% on transactions between $5 million and $10 million and an additional 5.5% on transactions over $10 million.
In the City...more
A recent change in New York law requires local authorities to assess spent nuclear fuel storage facilities at permanently shutdown nuclear power plants as real property for ad valorem tax purposes.
The legislation raises...more
1/26/2021
/ Ad Velorum Property Taxes ,
Energy Storage ,
Governor Cuomo ,
New Legislation ,
New York ,
Nuclear Power ,
Nuclear Regulatory Commission ,
Nuclear Waste ,
Property Tax ,
State and Local Government ,
Valuation
California voters say “No” to split roll, and San Francisco voters say “Yes” to higher gross receipts taxes and real estate transfer taxes.
Initial returns show California voters rejecting Prop. 15.
San Francisco voters...more
11/9/2020
/ Ad Velorum Property Taxes ,
California ,
Coronavirus/COVID-19 ,
Equity Compensation ,
Executive Compensation ,
Gross Receipts Tax ,
Local Taxes ,
Popular ,
Property Tax ,
Small Business ,
Transfer Taxes
This November, California voters will decide whether commercial and industrial properties will lose their Proposition 13 protection against property tax reassessment.
The Split-Roll Initiative has officially qualified for...more
In 731 Market Street Owner LLC v. City and County of San Francisco (June 18, 2020), California appellate court affirms that local realty transfer tax does not apply when leasehold has a remaining term of 35 years or...more
Initiative 17-0055 would limit Proposition 13 protection to residential property.
New initiative seeks to eliminate Proposition 13 protection for commercial and industrial property by requiring fair market value...more
On June 3, 2014, in a published decision, the California Court of Appeal for the Second Appellate District affirmed the Superior Court ruling in Ocean Avenue LLC v. County of Los Angeles, holding that even though 100 percent...more