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Self-Storage Associations Help Defeat California Prop. 15 Targeting Commercial Property Tax
SSA represents about 22,000 U.S. and international member-affiliated self-storage facilities

November 17, 2020:  The results of the 2020 California election are largely confirmed, and Prop. 15 has been conquered. Rob Lapsley, co-chair of the “No on Prop 15” coalition, praised the state and national associations for their endeavor to stop the legislation that would have raised property taxes on commercial properties. 

Prop. 15 was defeated as a direct result of the outstanding support of the self-storage industry. The Self Storage Association was one of the earliest leaders to oppose split roll. Your efforts reflect true leadership to protect all Californians from the largest tax increase in state history. We could not have been successful without your help” Rob Lapsley wrote in a note to SSA officials.

CSSA held a town hall for members on Sept. 24 to discuss the proposition. Rally cries from both associations have helped bring in donations to the “No on Prop 15” coalition. “Numerous self-storage owners have contributed to the fund to oppose Prop. 15, with a total of $2 million in contributions so far” SSA officials email newsletter. 

Prop 15 would have overridden the commercial real estate tax assessments previously established by Proposition 13, enacted in 1978. Under that legislation, residential and commercial properties are reassessed for property tax only when sold. It limits the tax rate to 1 percent of the assessed value, with a maximum increase of 2 percent per year. The new measure would keep existing rules in place for residential properties, but commercial properties would be reexamined every two to three years. The change would go into effect in 2022 for large companies and 2025 for smaller companies, according to the “Los Angeles Times.”

CSSA is a nonprofit trade association dedicated to supporting the self-storage industry in California. The group offers educational events, networking opportunities, legislative advocacy and more.

The SSA represents about 22,000 U.S. and international member-affiliated self-storage facilities, according to its website. SSA allied with several state and international self-storage associations and has about 6,000 members.


Source: https://www.insideselfstorage.com/tax-issues/self-storage-associations-help-defeat-california-prop-15-targeting-commercial-property