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Health & Fitness

Assemblymember Dababneh joins bipartisan effort to protect Proposition 13

SACRAMENTO – Assemblymember Matt Dababneh (D-Encino) issued the following statement today after the California State Assembly passed AB 2372, a bill that fixes a loophole in “change of ownership” property transactions:

“I am pleased to join with 56 of my colleagues, as well as with the California Business Roundtable, the California Chamber of Commerce, the California Business Properties Association and the California Tax Reform Association, in closing the change of ownership loophole. This bill will end the practice of evading property value reassessment when commercial property changes ownership. Many entities have dodged taxes over the last four decades by exploiting a loophole in our tax code. Because of this loophole, small businesses and homeowners have assumed an unfair burden of our state’s property taxes. I am pleased to join a coalition of diverse stakeholders including homeowners and business interests to protect the purpose of Proposition 13.

“The Howard Jarvis Taxpayers Association, which has no opposition to the bill, went so far to say ‘this is a fairly clear example of someone gaming the system,’ in reference to the loophole. This bipartisan effort in redefining change of ownership is an important step forward in protecting homeowners’ rights.” 

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