{"id":20943,"date":"2026-04-29T15:15:11","date_gmt":"2026-04-29T22:15:11","guid":{"rendered":"https:\/\/dornsife.usc.edu\/eri\/?page_id=20943"},"modified":"2026-05-01T16:01:52","modified_gmt":"2026-05-01T23:01:52","slug":"getting-real-about-reform-2026","status":"publish","type":"page","link":"https:\/\/dornsife.usc.edu\/eri\/publications\/getting-real-about-reform-2026\/","title":{"rendered":"Getting Real About Reform III: Estimating Revenue Gains from Changes to California\u2019s System of Assessing Commercial Real Estate"},"content":{"rendered":"\n\n  \n    \n\n\n\n\n\n\n<div\n  class=\"cc--component-container cc--rich-text \"\n\n  \n  \n  \n  \n  \n  \n  >\n  <div class=\"c--component c--rich-text\"\n    \n      >\n\n    \n      \n<div class=\"f--field f--wysiwyg\">\n\n    \n  <p><a href=\"https:\/\/dornsife.usc.edu\/eri\/wp-content\/uploads\/sites\/41\/2026\/05\/Getting_Real_About_Reform_III_2026_web.pdf\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-21074 size-large\" src=\"https:\/\/dornsife.usc.edu\/eri\/wp-content\/uploads\/sites\/41\/2026\/05\/getting_real_about_reform_III_web_cover_art-e1777675995886-788x1024.jpg\" alt=\"Getting real about reform report cover featuring U.S. and State of California flags.\" width=\"788\" height=\"1024\" \/><\/a><\/p>\n<p>May 4, 2026<\/p>\n<p><em>By Jennifer Ito, Justin Scoggins, and Manuel Pastor<\/em><\/p>\n<p>Major budget shortfalls are forcing governments and public institutions throughout California to make difficult decisions. The mounting fiscal challenges underscore the limitations of incremental budget adjustments and temporary revenue measures. There is increasing pressure to pursue new revenue options\u2014and revisiting the structural foundations of our property tax system is one of the options likely to be considered.<\/p>\n<p>Since 2015, we have estimated the potential revenue gains if commercial \/ industrial property were assessed at fair market value as opposed to the current system which is based on acquisition value. Our current findings: Assessing all commercial \/ industrial real property at fair market value could bring in an additional $18.2 billion to $25.1 billion statewide (with a mid-growth scenario estimate of $21.4 billion) in 2028-29, which is the earliest year in which such a reform could be implemented.<\/p>\n\n\n\n<\/div>\n\n\n  <\/div><\/div>\n\n\n  \n    \n\n\n\n\n\n\n<div\n  class=\"cc--component-container cc--spacer \"\n\n  \n  \n  \n  \n  \n  \n  >\n  <div class=\"c--component c--spacer\"\n    \n      >\n\n    \n\n  <\/div><\/div>\n\n\n\n  \n  \n    \n\n\n\n\n\n\n<div\n  class=\"cc--component-container cc--full-width-cta \"\n\n  \n  \n  \n  \n  \n  \n  >\n  <div class=\"c--component c--full-width-cta\"\n    \n      >\n\n    \n<div class=\"inner-wrapper\">\n      <div class=\"header-container\">\n  \n                  \n<div class=\"f--field f--section-title\">\n\n    \n  <h2>\n          Download report\n      <\/h2>\n\n\n<\/div>\n                <\/div>\n    \n      <div class=\"links-container\">\n        \n            \n<div class=\"f--field f--link\">\n\n    \n    \n  \n<a \n  class=\"link\"\n  href= https:\/\/dornsife.usc.edu\/eri\/wp-content\/uploads\/sites\/41\/2026\/05\/Getting_Real_About_Reform_III_2026_web.pdf\n  target=\"_blank\"  aria-label=\"Read more about Download Getting Real About Reform III\"  \n>\n    Download Getting Real About Reform III \n  <svg version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" x=\"0px\" y=\"0px\" viewBox=\"0 0 35 35\" enable-background=\"new 0 0 35 35\" width=\"25\" height=\"25\" xml:space=\"preserve\"><polygon fill-rule=\"evenodd\" clip-rule=\"evenodd\" fill=\"#FC0\" points=\"19.3,27.5 29.3,17.5,19.3,7.5 16.3,10.4 21.4,15.4 6.7,15.4 6.7,19.6 21.4,19.6 16.3,24.6 \"\/><\/svg>\n<\/a>\n\n\n<\/div>\n          <\/div>\n  <\/div>\n\n\n\n  <\/div><\/div>\n\n\n\n\n  \n    \n\n\n\n\n\n\n<div\n  class=\"cc--component-container cc--editorial-cards \"\n\n  \n  \n  \n  \n  \n  \n  >\n  <div class=\"c--component c--editorial-cards\"\n    \n      >\n\n    \n      <div class=\"header-container\">\n\n                  \n<div class=\"f--field f--section-title\">\n\n    \n  <h2>\n          Read more\n      <\/h2>\n\n\n<\/div>\n                        \n<div class=\"f--field f--description\">\n\n    \n  <p>Check out the previous\u00a0<em>Getting Real About Reform<\/em> reports below.<\/p>\n\n\n\n<\/div>\n          <\/div>\n  \n  \n\n  <\/div><\/div>\n\n\n  \n\n            \n  \n    \n\n\n\n\n\n\n<div\n  class=\"cc--component-container cc--stacking-cards \"\n\n  \n  \n  \n  \n  \n  \n  >\n  <div class=\"c--component c--stacking-cards\"\n    \n      >\n\n    \n    \n            <div class=\"cards-container\">\n            \n                <div class=\"card\">\n\n                    <div class=\"title-description\">\n\n                                                      \n<div class=\"f--field f--cta-title\">\n\n    \n  <h3>\n          <a href=\"https:\/\/dornsife.usc.edu\/eri\/publications\/getting-real-about-refom-ii\/\" \n         target=\"_blank\"                 class=\"\" \n      >Getting Real about Reform II: Estimating Revenue Gains from Changes to California\u2019s System of Assessing Commercial Real Estate<\/a>\n      <\/h3>\n\n\n<\/div>\n                        \n                                                        \n<div class=\"f--field f--description\">\n\n    \n  <p>2020<\/p>\n\n\n\n<\/div>\n                        \n                    <\/div>\n\n\n                    \n                        \n                            \n<div class=\"f--field f--image\">\n\n    \n        <a href=\"https:\/\/dornsife.usc.edu\/eri\/publications\/getting-real-about-refom-ii\/\" target=\"_blank\" aria-label=\"Read more about Getting Real about Reform II: Estimating Revenue Gains from Changes to California\u2019s System of Assessing Commercial Real Estate\">\n  \n    \n    \n    \n    \n              \n      <img decoding=\"async\"\n                            src=\"https:\/\/dornsife.usc.edu\/eri\/wp-content\/uploads\/sites\/41\/2023\/05\/Getting_Real_II_cover-768x1024.jpg\"\n          srcset=\"https:\/\/dornsife.usc.edu\/eri\/wp-content\/uploads\/sites\/41\/2023\/05\/Getting_Real_II_cover-768x1024.jpg 768w\"          sizes=\"(min-width:1024px) 50vw, (min-width:768px) 100vw, 100vw\"\n        \n                  role=\"none\"\n        \n        \n                                      \/>\n\n    \n    \n  \n      <\/a>\n  \n\n<\/div>\n\n                    \n                <\/div>\n\n            \n                <div class=\"card\">\n\n                    <div class=\"title-description\">\n\n                                                      \n<div class=\"f--field f--cta-title\">\n\n    \n  <h3>\n          <a href=\"https:\/\/dornsife.usc.edu\/eri\/publications\/getting-real-about-reform-2017-update\/\" \n         target=\"_blank\"                 class=\"\" \n      >Research Update: State and County-Level Estimates of Revenue Gains from Changes to California\u2019s System of Assessing Commercial Real Estate<\/a>\n      <\/h3>\n\n\n<\/div>\n                        \n                                                        \n<div class=\"f--field f--description\">\n\n    \n  <p>2017<\/p>\n\n\n\n<\/div>\n                        \n                    <\/div>\n\n\n                    \n                        \n                            \n<div class=\"f--field f--image\">\n\n    \n        <a href=\"https:\/\/dornsife.usc.edu\/eri\/publications\/getting-real-about-reform-2017-update\/\" target=\"_blank\" aria-label=\"Read more about Research Update: State and County-Level Estimates of Revenue Gains from Changes to California\u2019s System of Assessing Commercial Real Estate\">\n  \n    \n    \n    \n    \n              \n      <img decoding=\"async\"\n                            src=\"https:\/\/dornsife.usc.edu\/eri\/wp-content\/uploads\/sites\/41\/2023\/03\/2018GettingRealUpdatePERE-Report-Cover1800x2400-768x1024.png\"\n          srcset=\"https:\/\/dornsife.usc.edu\/eri\/wp-content\/uploads\/sites\/41\/2023\/03\/2018GettingRealUpdatePERE-Report-Cover1800x2400-1280x1707.png 1280w,https:\/\/dornsife.usc.edu\/eri\/wp-content\/uploads\/sites\/41\/2023\/03\/2018GettingRealUpdatePERE-Report-Cover1800x2400-768x1024.png 768w\"          sizes=\"(min-width:1024px) 50vw, (min-width:768px) 100vw, 100vw\"\n        \n                  alt=\"Report cover featuring the California and United States flags.\"\n        \n        \n                                      \/>\n\n    \n    \n  \n      <\/a>\n  \n\n<\/div>\n\n                    \n                <\/div>\n\n            \n                <div class=\"card\">\n\n                    <div class=\"title-description\">\n\n                                                      \n<div class=\"f--field f--cta-title\">\n\n    \n  <h3>\n          <a href=\"https:\/\/dornsife.usc.edu\/eri\/publications\/getting-real-about-reform-2015\/\" \n         target=\"_blank\"                 class=\"\" \n      >Getting Real about Reform: Estimating Revenue Gains from Changes to California\u2019s System of Assessing Commercial Real Estate<\/a>\n      <\/h3>\n\n\n<\/div>\n                        \n                                                        \n<div class=\"f--field f--description\">\n\n    \n  <p>2015<\/p>\n<p>&nbsp;<\/p>\n<p><em>See also: <a href=\"https:\/\/dornsife.usc.edu\/eri\/wp-content\/uploads\/sites\/41\/2026\/05\/Commercial_Property_Tax_Share_Of_Commercial_Real_Estate_PERE_final.pdf\">1-pager<\/a><\/em><\/p>\n\n\n\n<\/div>\n                        \n                    <\/div>\n\n\n                    \n                        \n                            \n<div class=\"f--field f--image\">\n\n    \n        <a href=\"https:\/\/dornsife.usc.edu\/eri\/publications\/getting-real-about-reform-2015\/\" target=\"_blank\" aria-label=\"Read more about Getting Real about Reform: Estimating Revenue Gains from Changes to California\u2019s System of Assessing Commercial Real Estate\">\n  \n    \n    \n    \n    \n              \n      <img decoding=\"async\"\n                            src=\"https:\/\/dornsife.usc.edu\/eri\/wp-content\/uploads\/sites\/41\/2023\/02\/2015_Commercial_Property_Tax_Brief_PERE_web_updated2-Report-Cover-768x1024.png\"\n          srcset=\"https:\/\/dornsife.usc.edu\/eri\/wp-content\/uploads\/sites\/41\/2023\/02\/2015_Commercial_Property_Tax_Brief_PERE_web_updated2-Report-Cover-768x1024.png 768w\"          sizes=\"(min-width:1024px) 50vw, (min-width:768px) 100vw, 100vw\"\n        \n                  alt=\"Report cover featuring the flags of United States and California in front a tall office-like building.\"\n        \n        \n                                      \/>\n\n    \n    \n  \n      <\/a>\n  \n\n<\/div>\n\n                    \n                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reports\"  \n>\n    Browse reports \n  <svg version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" x=\"0px\" y=\"0px\" viewBox=\"0 0 35 35\" enable-background=\"new 0 0 35 35\" width=\"25\" height=\"25\" xml:space=\"preserve\"><polygon fill-rule=\"evenodd\" clip-rule=\"evenodd\" fill=\"#FC0\" points=\"19.3,27.5 29.3,17.5,19.3,7.5 16.3,10.4 21.4,15.4 6.7,15.4 6.7,19.6 21.4,19.6 16.3,24.6 \"\/><\/svg>\n<\/a>\n\n\n<\/div>\n                        <\/li>\n                                    <\/ul>\n                          <\/div>\n                      <div class=\"swiper-slide\">\n              <h3 class=\"pane-title\">\n                Social Movements &amp; Governing Power\n              <\/h3>\n                                  \n<div class=\"f--field f--description\">\n\n    \n  <p>ERI&#8217;s work in the area of governing power includes: <strong>conducting cross-disciplinary studies<\/strong> of today\u2019s social movements, <strong>supporting learning and strategizing efforts<\/strong>\u00a0to advance dialogues among organizers, funders, intermediaries, evaluators, and academics, and<strong> developing research-based social change frameworks and tools<\/strong> to inform\u2014and be informed by\u2014real-world, real-time efforts towards a vision of deep change.<\/p>\n\n\n\n<\/div>\n                          \n  \n                              <ul>\n                                            <li>\n                                \n<div class=\"f--field f--link\">\n\n    \n    \n  \n<a \n  class=\"link\"\n  href= https:\/\/dornsife.usc.edu\/eri\/publications\/social-movements-and-governing-power-reports\/\n    aria-label=\"Read more about Browse reports\"  \n>\n    Browse reports \n  <svg version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" x=\"0px\" y=\"0px\" viewBox=\"0 0 35 35\" enable-background=\"new 0 0 35 35\" width=\"25\" height=\"25\" xml:space=\"preserve\"><polygon fill-rule=\"evenodd\" clip-rule=\"evenodd\" fill=\"#FC0\" points=\"19.3,27.5 29.3,17.5,19.3,7.5 16.3,10.4 21.4,15.4 6.7,15.4 6.7,19.6 21.4,19.6 16.3,24.6 \"\/><\/svg>\n<\/a>\n\n\n<\/div>\n                        <\/li>\n                                    <\/ul>\n                          <\/div>\n                      <div class=\"swiper-slide\">\n              <h3 class=\"pane-title\">\n                Publications Directory\n              <\/h3>\n                                  \n<div class=\"f--field f--description\">\n\n    \n  <div class=\"f--field f--description\">\n<div class=\"f--field f--description\">\n<p>In 2020, the USC Program for Environmental and Regional Equity (PERE) and the USC Center for the Study of Immigrant Integration (CSII) merged to form the USC Equity Research Institute (ERI).<\/p>\n<p>The full list of publications published under our previous and current names can be found in our publications directory.<\/p>\n<\/div>\n<\/div>\n\n\n\n<\/div>\n                          \n  \n                              <ul>\n                                            <li>\n                                \n<div class=\"f--field f--link\">\n\n    \n    \n  \n<a \n  class=\"link\"\n  href= https:\/\/dornsife.usc.edu\/eri\/publications\/\n    aria-label=\"Read more about Publications Directory\"  \n>\n    Publications Directory \n  <svg version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" x=\"0px\" y=\"0px\" viewBox=\"0 0 35 35\" enable-background=\"new 0 0 35 35\" width=\"25\" height=\"25\" xml:space=\"preserve\"><polygon fill-rule=\"evenodd\" clip-rule=\"evenodd\" fill=\"#FC0\" points=\"19.3,27.5 29.3,17.5,19.3,7.5 16.3,10.4 21.4,15.4 6.7,15.4 6.7,19.6 21.4,19.6 16.3,24.6 \"\/><\/svg>\n<\/a>\n\n\n<\/div>\n                        <\/li>\n                                    <\/ul>\n                          <\/div>\n                  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100vw\"\n        \n                  role=\"none\"\n        \n        role=\"presentation\"\n                                      \/>\n\n    \n    \n  \n  \n\n<\/div>\n                          <\/div>\n\n                      <div class=\"swiper-slide\">\n                                                                  \n<div class=\"f--field f--image\">\n\n    \n    \n    \n    \n    \n    \n              \n      <img decoding=\"async\"\n                            src=\"https:\/\/dornsife.usc.edu\/eri\/wp-content\/uploads\/sites\/41\/2022\/11\/Header_Option_LASkyline_01-768x248.png\"\n                    sizes=\"(min-width:1200px) 75vw, (min-width:768px) 83vw, 100vw\"\n        \n                  alt=\"a view of the Los Angeles skyline\"\n        \n        role=\"presentation\"\n                                      \/>\n\n    \n    \n  \n  \n\n<\/div>\n                          <\/div>\n\n                  <\/div>\n      <\/div>\n      <\/div>\n\n\n\n  <\/div><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":92,"featured_media":0,"parent":297,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-20943","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Getting Real About Reform III: Estimating Revenue Gains from Changes to California\u2019s System of Assessing Commercial Real Estate - USC Equity Research Institute (ERI)<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dornsife.usc.edu\/eri\/publications\/getting-real-about-reform-2026\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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