Archive for May, 2010

May 25th, 2010

May 2010: KC Fiscal Focus “Summary of November 2010 Ballot Measures, New Report Released on Property Tax Reform.”

Kersten Communications (KC) has completed a brief report, titled “Summary of November 2010 Ballot Measures,” which provides of summary of the three measures that have qualified for the November 2010 statewide ballot and seven other measures that have collected the requisite number of signatures but are pending verification.  To view this summary click here.   

Another KC report, titled “New Report Finds Major Shift in Property Tax Burden

May 25th, 2010

Summary of Analyses of the Governor’s May Revised Budget Proposal

On May 14, 2010 Governor Arnold Schwarzenegger released is May Revised budget proposal which outlines a series of solutions to close the $19 billion budget gap projected for 2010-11.  To view the proposal click here.   Legislative deliberations on the proposal have already begun.  Below is a list of the various analyses of the Governor’s May revision: 

“The 2010-11 Budget: Overview of the May Revision.”  Legislative Analyst, May 18… Read More...

May 21st, 2010

House and Senate Reach Compromise on “Job Creation” and “Tax Loophole Closure” Legislation

 The California Institute for Federal Policy Research (CIFPR) reports that House and Senate negotiators on May 20, 2010 reached a compromise on the conference agreement to H.R. 4213, the American Jobs and Closing Tax Loopholes Act.  The original legislation, the Tax Extenders Act of 2009, passed the House of Representatives on December 9, 2009.  The Senate passed a similar package, the American Workers, State and Business Relief Act, as an amendment… Read More...

May 12th, 2010

SF Chronicle: Ammiano Carries Bill to Amend Prop. 13 Rules

SFGate

Carolyn Said, Marisa Lagos, Chronicle Staff Writers

Tuesday, May 11, 2010

Tom Ammiano says there is a loophole in the law covering ...

With California mired in a budget crisis, some lawmakers are eyeing revisions to Proposition 13, the state’s landmark law limiting property-tax increases, considered the… Read More...

May 12th, 2010

NY Times: Looking for a Hole in Tax-Cutting Law’s Armor

Bay Area - 9 Counties, 8 Bridges, 7 Million People

May 11, 2010, 4:25 pm Looking for a Hole in Tax-Cutting Law’s Armor
By KATHARINE MIESZKOWSKI
 

In San Francisco, since the passage of Proposition 13, the property tax burden has shifted from commercial to residential property

May 9th, 2010

Associated Press: CA Bill Seeks to Close Property Tax Loopholes

By CATHY BUSSEWITZ Associated Press Writer

Posted: 05/09/2010 10:00:50 AM PDT

SACRAMENTO, Calif.—Democratic lawmakers are determined to close tax loopholes they say cost state and local governments hundreds of millions of dollars each year, as they search for ways to trim California’s enormous deficit.

A report by the union-funded California Tax Reform Association found that the share of property tax paid

May 9th, 2010

Capitol Weekly: Tax Study Shows Higher Burden on Residential Property

By John Howard | 05/07/10 12:00 AM PST

Across California, businesses are paying a far smaller share of property tax than homeowners since Proposition 13 was approved because of legal loopholes that allow companies to avoid a reassessment upon a change of ownership, a new study says.

The disparity exists in virtually all of California’s 58 counties, according to the 122-page report by the California Tax Reform Association

May 9th, 2010

SJ Mercury News: Homeowners Paying More Than Their Fair Share Since Landmark Tax Law Passed In 1978, Says Report

By Denis C. Theriault dtheriault@mercurynews.com
Posted: 05/07/2010 07:12:33 AM PDT
Updated: 05/07/2010 10:30:08 AM PDT

SACRAMENTO — Corporations have contributed a steadily decreasing portion of the state’s property taxes since Proposition 13 was approved three decades ago, even as the share paid by homeowners has risen, according to a report released Thursday by a tax-reform group.

The disparity has potentially cost the state