BIG NEWS!!! Legislation introduced to finally close the corporate loopholes of Prop 13
Today, State Senators Holly Mitchell and Loni Hancock introduced “The Property Tax Fairness Amendment” (SCA 5) to finally close the corporate loopholes of Prop 13 and raise $9 BILLION to reinvest in our kids and communities.
Why do these identical properties in downtown LA pay such different amounts in local property tax? Loopholes in Prop 13 have allowed some corporations and wealthy property owners to shift their tax responsibility onto the backs of homeowners and renters.