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BOMA International Advocacy Update - State & Local

02/28/2020 2:12 PM | Caroline Conklin (Administrator)

State & Local

BOMA International Joins Fight to Defeat California Split Roll Proposal

In July, we highlighted a looming confrontation over a California ballot measure on “split roll” property taxes that could potentially dismantle long-standing tax protections and result in an $11 billion tax hike on commercial real estate. For several years, BOMA California has been part of the leadership of a coalition of business groups, Californians to Stop Higher Property Taxes, that came together specifically to confront split roll efforts and now has plans in place for a multi-million-dollar advocacy campaign. At the Winter Business Meeting, BOMA International’s Industry Defense Fund (IDF) Oversight Committee unanimously approved BOMA California’s application for $100,000 in funds that will be matched by the BOMA local associations in the state. The largest award ever granted by the IDF, these funds will greatly assist overall fundraising in what is expected to be a very close ballot contest. The initiative will appear on the November 2020 ballot, and would require reassessments of commercial and industrial properties, creating a “split roll tax” because it would separate commercial from residential property. Not only would the direct effect in California be devastating to the commercial sector and particularly small businesses, but the measure also threatens to signal a dangerous precedent for other states that are looking for new revenue sources.

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The Building Owners and Managers Association (BOMA) International is a federation of 93 BOMA U.S. associations, BOMA Canada and its 11 regional associations and 13 BOMA international affiliates. Founded in 1907, BOMA represents the owners and managers of all commercial property types including nearly 10 billion square feet of U.S. office space that supports 3.7 million jobs and contributes $205 billion to the U.S. GDP. Its mission is to advance the interests of the entire commercial real estate industry through advocacy, education, research, standards and information. BOMA/New Jersey has been federated with BOMA International since 1974. Find BOMA International online at www.boma.org.


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