Four Oakland city councilmembers have joined a statewide coalition of community and civic leaders calling for the elimination of a major imbalance in California’s property tax law.
p>< p>President Pro Tem Rebecca Kaplan (At Large), Councilmembers Dan Kalb, Libby Schaaf and Lynette Gibson McElhaney are asking the City of Oakland to formally support a statewide ballot measure in 2016 that would reform Proposition 13 by splitting the tax roll between residential and commercial properties.
Kaplan says California’s current property tax system is unfair, causing homeowners to bear a disproportionate share of the state’s tax burden.
Closing the corporate loophole in Proposition 13 could generate at least $5 billion for the State of California, according to the Legislative Analyst’s office.
“We have an incredible opportunity to improve the economic vitality of our communities, our cities and our entire state,” Kaplan said. “This kind of tax fairness can help cities like ours improve public safety and create new jobs.”
Under the proposal, California homeowners would continue to enjoy the tax relief created under Proposition 13 when it passed in 1978 – and would ensure that corporations pay their fair share.
The City Council Committee on Rules will hear the legislation at its meeting on Feb. 27.