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Articles by Kit Driscoll
Prop 19 Passes: Preserve Low Property Taxes for Next Generation | JD Supra
California’s unofficial election results[1] indicate that Proposition 19, one of the two Propositions affecting California property tax rules, passed and will affect transfers after February 15, 2021. Commercial and industrial property owners need not be concerned about the split roll that would have assessed property taxes based on fair market value as Proposition 15 did not pass.
San Francisco Tax Propositions on the November Ballot | JD Supra
San Francisco voters will confront a number of tax measures on the November ballot. These measures are summarized below. Proposition F — Adjustment of Baseline Funding and Business Tax Changes Current Law: San Francisco imposes a number of taxes under the Business and Tax Regulations Code (the “SF Tax Code”) on businesses engaged in business within the City.
San Francisco Tax Propositions on the November Ballot
San Francisco voters will confront a number of tax measures on the November ballot. These measures are summarized below. Proposition F — Adjustment of Baseline Funding and Business Tax Changes Current Law: San Francisco imposes a number of taxes under the Business and Tax Regulations Code (the “SF Tax Code”) on businesses engaged in business within the City.
Another Daunting San Francisco Ballot | JD Supra
San Francisco voters will again confront a formidable ballot on November 3, 2020, with 13 San Francisco propositions to consider in addition to state and federal offices and measures. The local propositions address an array of topics, including governance, affordable housing, taxes, and permits. Some of the key measures impacting San Francisco businesses are summarized below. Except where indicated, the measures require a simple majority vote to pass.
California State Ballot Includes Major Property Tax, Rent Control Measures | JD Supra
While the focus in November is on the top of the ticket, Californians also face a long list of ballot measures. Here we focus on three major measures that impact California real estate: Propositions 15, 19 and 21. Proposition 15: Split Roll Tax for Commercial/Industrial Properties. Proposition 15 would remove certain limitations established under Proposition 13 (passed in 1978) that place a 2 percent cap on increases to assessed property values.
California State Ballot Includes Major Property Tax, Rent Control Measures
While the focus in November is on the top of the ticket, Californians also face a long list of ballot measures. Here we focus on three major measures that impact California real estate: Propositions 15, 19 and 21. Proposition 15: Split Roll Tax for Commercial/Industrial Properties. Proposition 15 would remove certain limitations established under Proposition 13 (passed in 1978) that place a 2 percent cap on increases to assessed property values.
2020 Tax Planning: Consider Transfers of California Legacy Properties in Light of Proposition 19 | JD Supra
Proposition 19, which will be on California’s November 2020 ballot, dramatically changes the property tax rules exempting certain intra-family transfers and primary residence transactions for certain individuals such as those over age 55 or severely disabled.[1] This memo illustrates the impact of the proposed change for properties transferred between parents and children, which could significantly increase the cost to future generations of keeping legacy properties within the family.[2]...
2020 Tax Planning: Benefits of GRATs | JD Supra
Now may be an opportune time to gift assets out of your estate, particularly through an estate planning technique known as the Grantor Retained Annuity Trust (“GRAT“)—a small silver lining of the alarming pandemic and down economy. As you undoubtedly noticed, the stock market and other economic indicators declined significantly in reaction to the COVID-19 pandemic, and the federal interest rates declined in tandem.
2020 Tax Planning: Techniques that May Not Exist in 2021 | JD Supra
Major tax reform discussions are ongoing in Washington and Sacramento while everyone at home is busy navigating the pandemic. Many commentators are predicting that budgetary pressures resulting from the COVID-19 stimulus measures will necessitate a near-term reversal of some of the 2017 federal tax cuts and provide further rationale for the passage of significant California property tax propositions.
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