Monday, September 23, 2019
Will Solano Companies Leave California If Commercial Real Estate Taxes Jump Up?
Solano Real Estate Owning Employers Might Depart From California & Move To Texas If Commercial Real Estate Taxes Increase.
If commercial property taxes increase, will California companies stop hiring, investing?
The two largest property taxpayers also employ close to 34,000 people
Residential real estate owners wanting to keep their taxes down might be asking business owners to pay more taxes on their Solano commercial real estate. This is based on when California voters approved Proposition 13.
In 2014, prop 13 was called a sacred thing by former Governor Jerry Brown.
Solano commercial real estate owners in Fairfield, Vacaville, Vallejo and other cities charge tenant rents. The real estate rents cover real estate property taxes collected by the Solano Tax Assessor’s office. Those new potential increases will in one way or the other be absorbed by the tenant or passed on to their Solano customers. Then prices will go up, resulting in higher costs for Solano consumers say Solano Business News.
In Conclusion: Prices Consumers Pay Will Increase. And It's Likely Some Solano Companies Will Leave California If Commercial Real Estate Taxes Increase.