2020 Election Results
Proposition 15: DEFEATED
This ends a challenge to dismantle major portions of Proposition 13, including tax protections for your buildings.
BOMA/GLA was a major leader in this campaign to save you and your tenants from an $11.5 billion tax increase. From co-chairing the campaign efforts to raising tens of thousands of dollars against this initiative, we were on the front lines – and could not have succeeded without our members' support.
Proposition 21: DEFEATED
This defeat protects residential properties throughout California, who would have seen sweeping rent control measures across the state should this ballot initiative have passed.
It would have both allowed local governments to create rent control measures on residential properties 15 years or older and set caps on rent increases for vacant properties at no more than a 15% increase over three years.
BOMA/GLA opposed this policy due to its effects on the economy and housing affordability. This defeat is also a big victory for BOMA/GLA.
Culver City Measure RE: PASSED
The current real estate transfer tax rate in Culver City will now increase from 0.45% to the following scale:
- Increase to 1.5% for properties valued at $1.5 million or more.
- Increase to 3% for properties valued at $3 million or more.
- Increase to 4% for properties valued at $10 million or more.
This tax increase, unfortunately, exists in perpetuity. Revenue will go to Culver City’s general fund and be used at the City Council's discretion.
With the average Culver City home costing $900,000, this proposal disproportionately impacts commercial property and multifamily housing owners. This factor, along with deceptive messaging, led a slim majority of voters to approve this tax increase.
BOMA/GLA is disappointed with these results, which will ultimately damage the broader real estate market and economy of Culver City.
Local Council Elections: PENDING
Many local city council races are too close to call. To track the results, click HERE. BOMA/GLA will provide updates as the results are certified.