A lot of commercial properties are not owned by the companies residing in them, but property holdings firms that have owned them for decades. And/or business pe

A lot of commercial properties are not owned by the companies residing in them, but property holdings firms that have owned them for decades. And/or business people who bought in the right place at the right time lol. The property tax laws in California that benefit long time homeowners also benefit long time commercial property owners. In California, if proposition 15 passes AND a ton of companies stop leasing space, a lot of those firms will probably have their arm twisted enough to sell the properties. That will lead to a lot more property tax revenue. That, or the commercial properties get torn down and replaced with residential properties. Or none of the above and California becomes like Detroit, as some people in another thread predicted, lmao.