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Report: Homeowners shouldering greater property tax burden
7 May 2010
From the Oakland tribune on 5/7/10"
OAKLAND — An increasing percentage of property tax burdens have shifted from commercial to residential property owners since Californians voted on Proposition 13, costing state and local governments millions in tax dollars, a report released this week claims.
The report, prepared by the California Tax Reform Association in conjunction with the Alliance of Californians for Community Empowerment, was released days before an Assembly committee in Sacramento is expected to begin consideration of a tax-reform bill by Assemblyman Tom Ammiano, D-San Francisco.
The bill aims to tighten property tax rules that, supporters of the bill say, allow corporations to take advantage of property-transfer laws by not having their properties reassessed in certain cases when ownership changes.
Such loopholes, as supporters of Ammiano's bill call them, cost state and local governments millions of dollars - a point not lost here in Oakland, where the city is struggling with a budget deficit of about $30 million for the upcoming fiscal year.
Data in the report showed that residential taxpayers in Alameda County paid 55 percent of the county's property taxes in the 1973-74 fiscal year, compared with 74 percent this year. In Contra Costa County, residential taxpayers paid 48 percent of property taxes in 1970, compared with 74 percent in 2009, the report said.
Bay Area News Group staff writer Denis C. Theriault contributed to this story. To read the report, visit caltaxreform.org.
The original link to this story can be found at www.mercurynews.com