MBANow: MBA Chairman Brian Stoffers, CMB

With Californians set to vote on ballot initiative Propositions 15 and 21 on Election Day, MBA 2020 Chair Brian Stoffers, CMB, joined MBANow to discuss the initiatives, MBA and its coalition partners’ opposition to them and how MBA members can help.

The interview is available here.

“Proposition 15 would increase property taxes on commercial real estate by more than $12.5 billion annually in the state of California,” Stoffers said. “It would increase the cost of living at exactly the wrong time during a tough economy and it potentially could open the door to future tax increases on single-family homes–although they are currently excluded.”

Regarding Proposition 21, Stoffers said that ballot initiative has the potential to create “a patchwork of state and local rent control laws that could increase the cost of lending and it would also negatively affect the availability of affordable real estate financing in the state.”

Stoffers said more information is available at https://action.mba.org/mba/caballot .