> One way to kill the beast is by partial repeal of commercial properties. Apple claimed its real estate value’s worth is $200.
That has nothing to do with Prop 58 - it’s accounting rules and depreciation there...
That has nothing to do with Prop 58 - it’s accounting rules and depreciation there...
Land value is still land value and will never be “depreciated”.
What happens is that folks like Disney in Anaheim as well as it seems, Apple owned the land for a long time. So Disney’s real estate tax bill is near nothing for Disneyland.
That’s the pain of prop 13. Should have been modified for sure!