[quote=CA renter]
Agree with you that state/local revenue would probably not change too much.
Commercial RE is another issue entirely, but I would also encourage the ownership of a single commercial/industrial building per person or related entity by giving them Prop 13 protection and also allow the MID on a *single* property (there might be some size limitations). The property should be reassessed any time there is an ownership change. People should not be able to pass on their Prop 13 protection via corporations or LLCs, etc. (which simply increases prices on these properties — the seller gets the benefit, but the taxpayers have to subsidize it).
Additionally, multi-family dwellings (apartment buildings) could retain Prop 13 protection, but I’d like to see a way for tenants to somehow benefit from this as well — a shared benefit of sorts.[/quote]
Prop 13 property tax rules apply to all real property in CA, including commercial and multi-unit residential. I suspect it has little or no effect on market rents. Outside of SFRs, rents follow a pretty standard supply and demand model. Values follow income, not the other way around.
