For Immediate Release
July 22, 2022
Contact: Regina Evans
Board of Equalization Convenes Property Tax Abatement Workgroup
Sacramento – The California State Board of Equalization (BOE) will hold the first of three Property Tax Abatement Workgroup convenings on Wednesday, July 27, 2022, in Sacramento. The BOE established this Workgroup to engage stakeholders in meaningful dialogue and to exchange ideas about utilizing property tax abatements to spur the development of affordable housing in California. Stakeholders will provide testimony, discuss best practices, and share strategies to incentivize development and address housing needs in California.
“As the statewide agency responsible for the administration of California's $85 billion property tax system, the BOE is uniquely positioned to convene this Workgroup,” said California State Board of Equalization Chair Malia M. Cohen. “I urged my colleagues to establish the Workgroup to ensure that we did our part in addressing the projected 2.5 million new homes needed to close California’s housing gap.”
What: Property Tax Abatement Workgroup
When: Wednesday, July 27, 2022
Time: 10:00 a.m.
Where: 450 N Street, Auditorium, Sacramento, CA 95814
The July 27th meeting will focus on an overview of the current housing crisis, current property tax incentives, equity issues, and different property tax abatement strategies being utilized nationally and locally. Stakeholders and the public are invited to join and can participate in person, virtually, or by phone.
For more information about how to participate in the Workgroup and to view the agenda, visit the BOE website.
State Board of Equalization Chair 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 Chair 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.