Will increase property taxes cost California 396,345 jobs?According to a recent study by Californians Against Higher PropertyTaxes’ Stephen Frates and MichaelShires at Pepperdine University's DavenportInstitute, the answer is yes.
The study showed that by increasing property taxes on businessesby $6 billion, it would result in $71.8 billion in reduced economicoutput and 396,345 fewer jobs over the first five years of the taxincrease. And those impacts would grow over time, they say.
“With unemployment numbers leading the nation, and smallbusinesses trying to recover, there could not be a worse time toforce California businesses to pay higher property taxes. Highertaxes means businesses charging higher prices for their consumers,laying off their employees or even worse, closing their doorscompletely,” says John Kabateck, executivedirector of the National Federation of IndependentBusiness—California.
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