Does SCF Impact€¦ · EXCLUDED by making clear that under no circumstances will be affected....
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EXCLUDED by making clear that under no circumstances will be affected. EXCLUDED SCF requires that that limited commercial uses of businesses or short-term rentals, shall be classified Is this property used for agriculture? EXCLUDED SCF exempts land that is used for producing commercial agricultural Is it used as an open public space? EXCLUDED SCF exempts spaces such as parks and historical sites. Is it undeveloped commercial-zoned? REASSESSED Currently, California's property tax commercial and industrial property. A reformed system, that assesses all to build housing. Is this property with... A single-family home Apartment buildings of any size Mobile homes Senior centers What about... Live/Work spaces Home offices Home-based businesses Yes Yes Yes No Does SCF Impact________________ ? No Yes Yes No Does the owner have other commercial properties with a combined assessed value >$3M? REASSESSED SCF will reclaim $8-$12B every year for California by closing a commercial property tax loophole that benefits a and wealthy investors. the lowest property tax rates in the United States. EXCLUDED SCF exempts $3 million or less from reassessment. Is it “mixed use” property? Yes Is it a commercial property assessed over $3M? If >75% is used for residential: POTENTIALLY EXCLUDED SCF specifies that the legislature can exempt commercial property that No REASSESSED Yes Is it owned by a non-profit, such as university, church, or hospital? EXCLUDED Current law which provides certain non-profits will stay the same. No If <75% is used for residential: EXCLUDED (PARTIALLY) and only commercial purposes will be reassessed.
Transcript of Does SCF Impact€¦ · EXCLUDED by making clear that under no circumstances will be affected....
EXCLUDEDby making clear that under no circumstances will
be affected.
EXCLUDEDSCF requires that that limited commercial uses of
businesses or short-term rentals, shall be classified
Is this property used for agriculture?
EXCLUDEDSCF exempts land that is used
for producing commercial agricultural
Is it used as an open public space?
EXCLUDEDSCF exempts spaces
such as parks and historical sites.
Is it undeveloped commercial-zoned?
REASSESSEDCurrently, California's property tax
commercial and industrial property. A reformed system, that assesses all
to build housing.
Is this property with...
A single-family homeApartment buildings of any size
Mobile homes
Senior centers
What about...
Live/Work spacesHome offices
Home-based businesses
Yes Yes
Yes No
Does SCF Impact________________?
NoYes Yes No
Does the owner have other commercial properties with a combined assessed value >$3M?
REASSESSEDSCF will reclaim $8-$12B every
year for California by closing a commercial property tax loophole that benefits a
and wealthy investors.
the lowest property tax rates in the United States.
EXCLUDED
SCF exempts
$3 million or less from reassessment.
Is it “mixed use” property?
Yes
Is it a commercial property assessed over $3M?
If >75% is used for residential:
POTENTIALLY EXCLUDEDSCF specifies that the legislature
can exempt commercial property that
No
REASSESSED
Yes
Is it owned by a non-profit, such as university, church, or hospital?
EXCLUDEDCurrent law which provides
certain non-profits will stay the same.
No
If <75% is used for residential:
EXCLUDED (PARTIALLY)
and only commercial purposes will be reassessed.
