Property owners in California would face a property tax increase of more than 7 percent this year if not for the cap set by Proposition 13, according to information released December 23 by the State Board of Equalization.
The Appeal of LBD Corporation involved a small, closely held corporation located in Texas that sold corporate assets in California via a California-based auction house.
The Franchise Tax Board’s annual Taxpayers’ Bill of Rights hearing will be held December 8 in a meeting that will include in-person and virtual participation.
