Manage episode 286303239 series 2394432
California landlords may face a new excise tax. AB 1199 would impose a tax on landlords to pay for the privilege of renting or leasing property in California. Some people feel it’s an end run to the failed Proposition 15 in the last election which would’ve eliminated Prop 13 protections for commercial property. AB 1199 would also create a public registry of rental property information including the names of the individual property owners.
Links: 1 - https://leginfo.legislature.ca.gov/faces/billTextClient.xhtml?bill_id=202120220AB1199 2 - https://californiaglobe.com/section-2/proposed-excise-tax-intentional-effort-to-subvert-the-will-of-california-voters/ 3 - https://californiaglobe.com/section-2/excise-tax-on-ca-property-owners-for-renting-or-leasing-property-in-new-bill/