“Split Roll” Parcel Tax defeated
SB 1021, which OCBC opposed, was successfully defeated in the Assembly Revenue and Tax Committee. Introduced by Senator Lois Wolk, 3rd District, the bill would have severely confused the tax code by granting school districts the authority to impose non-uniform taxes based on the square footage of a property or a property’s classification as commercial, residential or industrial. In addition to confusing the tax code, the bill would have had major negative economic impacts on small and large businesses alike as school districts could raise taxes based solely on a property’s square footage, rather than something like revenue, making it more expensive to do business in the state. For more information, contact Bryan Starr, Senior Vice President, Government Affairs.