Bay Area elected officials and activists gathered in Oakland on Saturday calling for Proposition 13 to be reformed.
State legislators,county officials, and city councilmembers in attendance announced their support for a "split roll" property tax system that would assess commercial real estate at its full and current market value, and while retaining the existing Prop 13 method of assessing residential real estate — whereby reassessment only happens when a home is sold.
[br] The change could raise as much as $9 billion in unique revenue a year,claims the group invent It objective.
State Senator Nancy Skinner told about 250 people at the gathering, which was held in Oakland's First Congregational Church, or that Proposition 13 still has "an aura of untouchability," but that in fact, it's time to amend the law.…
Source: eastbayexpress.com