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North Bay Business Journal

Monday, May 24, 2010, 3:24 am

June initiative would exempt seismic upgrades from new taxes

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    NORTH BAY – This June voters at the ballot boxes will decide whether seismic renovations can be exempted from new property tax assessments.

    The proposition, the Seismic Retrofitting Amendment and ironically numbered Prop. 13, the same as the famed property tax initiative of more than three decades ago, is a legislatively referred constitutional amendment sponsored by state Sen. Roy Ashburn, R-Bakersfield.

    If approved, tax assessors would not be allowed to re-evaluate new construction for property tax purposes when the point is to seismically retrofit an existing building. It would amend Section 2 of Article XIII A of the California Constitution.

    Currently, the constitution limits taxes on property to 1 percent of the full cash value of the property, meaning the appraised value of that real property when purchased, newly constructed or a change of ownership has occurred.

    Locally, the North Coast Builders Exchange and the Santa Rosa Chamber of Commerce are recommending a yes vote while the Napa County Chamber of Commerce and the California Manufacturers and Technology Association, recommend a no vote. The California Chamber of Commerce also recommends a no vote.

    Also, already approved to be on the ballot for November is the bill that would legalize and tax the cultivation and sale of marijuana.

    The California Marijuana Legalization Initiative, if passed, would bring $1.3 billion in taxes a year to the state, according to a state Board of Equalization study.

    Tax Cannabis and Oaksterdam University in Oakland are the major proponents to the proposition.

    Opponents are Coalition for a Drug-Free California, California Narcotics Officers Association, Mothers Against Drunk Driving and the California Police Chiefs Association.

    Signatures have been filed for three other initiatives to go on the November ballot that would have the potential to impact taxes, including an increase in vehicle license fees by $18 a year to fund state parks.

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    Comments

    2 Comments

    1. May 24, 2010, 7:39 am

      by hoamrogh

      I’m all for legalization in CA, but it will cause a federal conflict. Which is why the following book provides ammo for murdering the federal law, constitutionally speaking of course.


    2. May 27, 2010, 11:14 am

      by POLITICAL HOT TOPICS: Tuesday, May 25, 2010 — Marijuana News

      [...] Read more on North Bay Business Journal [...]


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