1978: Nearly two-thirds of California's voters pass Proposition 13, capping property taxes in California and dramatically changing our State’s fiscal and development landscape. Forty years later, a proposed ballot initiative to amend Prop 13 proposes to eliminate the existing inflationary cap on annual assessments for most industrial and commercial properties statewide, allowing non-residential properties to be assessed at fair market value and generate higher property taxes to help fund schools, infrastructure and public services.
On Wednesday March 7, ULI SF’s Housing the Bay presents "Forty Years of Proposition 13: Truth and Consequences”. Moderated by Libby Seifel, the panel will discuss the “truth and consequences” of Prop 13, examining how it governs the collection and distribution of property taxes and how this landmark initiative has affected the fiscal and development landscape throughout California. Fred Diaz (City Manager of Fremont), Brian Uhler (Principal Fiscal & Policy Analyst at the California Legislative Analyst's Office), Tom Bannon (California Apartment Association CEO), and Ben Grieff (Campaign Director at Evolve) will share their insights and explore how Prop 13 affects housing costs, new housing development and property turnover.
"Forty Years of Proposition 13: Truth and Consequences" takes place Wednesday, March 7 at 5pm. Prologis Ventures has graciously opened their doors (at Pier 1, Bay 1, Embarcadero, San Francisco) for this panel. Full event details and registration are available here: https://sf.uli.org/event/forty-years-prop-13-truth-consequences/
This program is part of ULI SF’s Housing the Bay, a ULI SF member-driven initiative to foster innovative solutions to the Bay Area housing crisis in the realms of financing, building costs, policy, and the public process. This panel has been coordinated by our Innovative Financing group and is a lead-up program for the ULI SF Housing Summit on Friday, March 23, 2018.
UPDATE! (March 8): Click here to view the presentation "Forty Years of Proposition 13: Truth and Consequences”.