Reforming Proposition 13 to Tax Land More and Buildings Less

At THIS LINK you will be able to download a copy of my forthcoming article examining the case for reforming Proposition 13 to adopt a "split roll" regime, which would assess commercial and industrial at market value (i.e., periodically reassessed up/down based on changes in market value) and leaving residential property in the standard Prop 13 "acquisition value" regime. The basic bottom line is that the burden of such a reform would fall predominantly on land. Revenue from a split roll could help fund a reduction in the property tax burden on structures (e.g., a lower rate on new construction). Anyone interested in sound tax policy should favor this sort of shift in the tax burden from structures to land.