Real Estate Round-Up: Every vote counts
Last updated 11/10/2020 at 11:23am
On Nov. 3, voters made their voices heard on two real estate related propositions.
Prop 15 would have changed how commercial properties and agricultural land have their property taxes assessed. Commercial property and agricultural land would have been re-assessed every three years, whether or not there was a transfer of title. In other words, the reassessment would not require a sale to occur but would instead become a calendared event.
The proponents argued that large corporations had been able to retain their property tax basis from the time of the original purchase, just like residential...