Votes on Commercial Property Taxes Delayed
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Lacking sufficient votes, Assemblywoman Loni Hancock (D-Berkeley) put off a vote in the Assembly Revenue and Taxation Committee on a bill that could lead to higher taxes on commercial property than on homes.
On Monday, the committee approved a bill by Sen. Martha Escutia (D-Whittier) to impose heftier fines on companies that fail to report changes of ownership, which generally trigger higher property taxes. Her measure would raise the fine from $2,500 to $25,000.
Issues raised by the bills could become a focus of hearings on the state tax system this summer.
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