Split Roll Factsheet - CalTax

Split roll PROPERTY TAX. POLICY BRIEF | FEBRUARY 2013. T. he idea of a Split roll property tax has been KEY FACTS fully vetted and consistently rejected since the passage of Proposition 13 in 1978. While Property Tax Burden Has Not some believe that a Split roll would bring in additional Shifted to Homeowners. Proposition revenue, it would stifle the state's economic growth in the long term. From what is known about the 13 has not shifted the property economic impacts of Split roll , it remains an ill- tax burden to homeowners. Board advised idea. of Equalization data shows that Proposition 13 assessments have What Is a Split roll ? grown faster on business and non- homeowner-occupied property. California's system of property taxation under Proposition 13 uses an acquisition-value standard: Businesses Pay Largest Share county assessors determine a property's value Under Proposition 13. Data from when it goes through a change in ownership or the Board of Equalization shows that undergoes new construction, and tax is assessed businesses and non-homeowner- at 1 percent of this value, plus a rate for voter- occupied property owners pay the approved indebtedness.

SPLIT ROLL PROPERTY TAX 3 this infi rmity. Voters should be aware that a split roll tax may increase tax burdens on their dwelling units. Hurts Many Businesses.

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