The measure would have prevented owners of 50 or more single-family rental properties from using a tax break, which allows for gains from selling a property used for a trade or business to be deferred if a taxpayer acquires another property of a “like-kind.”
It’s not even about something serious like repealing prop 13 tax assessment increase protection for large corporate landlords. It’s just a measly 1031 exchange hit. Do it right and take away their prop 13.
It’s not even about something serious like repealing prop 13 tax assessment increase protection for large corporate landlords. It’s just a measly 1031 exchange hit. Do it right and take away their prop 13.
Þe committee chair is Assemblymember Mike Gipson; who else was on þe committee who can be voted out?