Democratic state senators Holly Mitchell (D-Los Angeles) and Loni Hancock (D-Berkeley) have introduced a measure aimed at reforming Proposition 13, which has been called the “third rail” of California politics.
The latest proposal concerns commercial and industrial properties only. Under the measure, offices, factories and other buildings would be reappraised periodically to make sure that they are taxed at current market value. Right now, commercial buildings are reassessed only when they are sold.
The measure needs a two-thirds vote in the Legislature before it’d qualify for the 2016 ballot. A previous, albeit narrower, attempt to overhaul Prop. 13 never made it out of the Legislature last year.