Billionaire gubernatorial candidate Tom Steyer has signaled support for a referendum to reverse parts of Prop 13. Steyer has not solidified any plans, but early reports are that he’s supportive of a “split-roll” strategy, which would leave residential properties alone and only reassess commercial lots. He confirmed his support for the concept to Politico, describing it as an effort to raise tax revenue to offset healthcare cuts brought on by President Donald Trump’s megabill last year. In California, conversations about property prices, government budgets, and the state’s taxes eventually come around to Proposition 13, the 1978 voter referendum that essentially […]
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