ACTION Apartment Association - Proposed Teachers Strike Settlement Calls for Los Angeles to Join Effort to Repeal Limits on Property Tax Increases

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Proposed Teachers Strike Settlement Calls for Los Angeles to Join Effort to Repeal Limits on Property Tax Increases

Proposed Teachers Strike Settlement Calls for Los Angeles to Join Effort to Repeal Limits on Property Tax Increases

01/23/2019 12:59 PM | Margaret Fulton (Administrator)

Labor Dispute Brings National Attention to California's Underfunded Schools and Movement to Partially Repeal Proposition 13

A tentative agreement to end the six-day strike by Los Angeles teachers requires the Los Angeles Unified School District and Mayor Eric Garcetti to endorse a polarizing measure headed for the November 2020 ballot that would repeal protections of the landmark property tax-cutting measure known as Proposition 13 for commercial real estate.

Commercial real estate owners and developers have warned that if the so-called split-roll property tax is passed, hundreds of companies could leave California to avoid paying higher state taxes, which in turn could drive up commercial vacancy rates and discourage real estate development in the state.