Market Value: How Fair Assessment of California’s Commercial Property Values Would Likely Affect Land Use, Urban Development and the Economy
Reforming our property tax system to assess commercial properties at their market value would provide a more equitable tax structure for businesses, while raising additional revenue for essential state services. But what would be the overall economic impact of such a reform? To what extent would increasing property taxes for large land owners hurt the California economy, resulting in lost jobs and economic output? To what extent would it improve economic performance and promote more efficient land use and urban development?