For Immediate Release
January 10, 2020
Board of Equalization Chair Malia M. Cohen Statement on the Governor's Budget
Sacramento – California State Board of Equalization Chair Malia M. Cohen issued the following statement about Governor Gavin Newsom’s proposed Fiscal Year 2020-21 state budget released today:
"California continues to face a distressing housing shortage with housing costs continuing to rise rapidly," said Board of Equalization Member Malia M. Cohen. "I commend Governor Newsom for creating a strategy to help struggling families while encouraging local jurisdictions to build more to fulfil a critical need for affordable and mixed income housing. Since California’s property tax system is the second largest source of public revenue and provides billions of dollars for our schools and local governments, we need to carefully consider the impacts of these housing initiatives as we work to modernize the complex property tax system."
State Board of Equalization Member Malia M. Cohen represents nearly 10 million constituents residing in 23 counties in Northern and Central California, extending from Del Norte County in the north to Santa Barbara County in the south. Board Member Cohen is the youngest Constitutional Officer serving in California.
The Board of Equalization is California's statewide elected tax board. Its five members include four members elected in districts, and the State Controller. Under its constitutional mandate, the BOE oversees the assessment practices of the state's 58 county assessors, who are charged with establishing values for approximately 13.6 million assessments each year. In addition, the BOE assesses the property of regulated railroads and specific public utilities, and is responsible for the alcoholic beverage tax and tax on insurers.
Note: This news release may discuss complex tax laws and concepts. It may not address every situation and is not considered written advice. Changes in law or regulations may have occurred since the time this news release was written. If there is a conflict between the text of this news release and the law, decisions will be based upon the law and not this news release.