Articles Recently Tagged: AB2372

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Loophole In Bill To Close Prop 13 Loophole Removed

Designed to close a loophole in Proposition 13 which has allowed businesses to avoid property tax reassessments upon the purchase of a property, Tom Ammiano’s proposed Assembly Bill 2372 aims to refine what constitutes a sale. But as originally drafted, the bill would have created a loophole of its own. The current definition of a change Read More »

Bill To Close Proposition 13 Loophole Passed By State Assembly

As the State Senate revived a bill to freeze speculative evictions in San Francisco, the State Assembly passed a bill designed to expand the definition of a “change of ownership” for properties in California in an attempt to close a Proposition 13 loophole. Passed by a vote of 57-13 and on to the Senate, Assembly Read More »

Proposition 13 Pigs Have Grown Some Wings

Designed to protect long-term homeowners from a spike in property taxes as property values rise, California Proposition 13 freezes the tax assessed value of a property at its purchase price plus a nominal annual adjustment of not more than 2 percent. Proposition 13 applies to both individuals and businesses that own property in California. And Read More »