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Prop 15, also commonly known as the split roll tax, is officially coming to the California ballot in November, and it is the latest initiative causing a frenzy in the commercial real estate industry. Prop 15 would roll back certain elements of Prop 13, California’s landmark property tax provision that limits property tax increases for all real estate assets, both residential and commercial. Prop 15 would open tax increases for commercial assets, including office, industrial and retail, and these assets would be taxed at market value. The ballot measure has the potential to dramatically increase taxes for commercial owners, according to a new report from Marcus & Millichap.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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