When compared to other states, there are very few favorable metrics for businesses in California. The tax and regulatory burdens are heavy and much of the well-documented exodus from California is from businesses owners who have had enough. One of the few bright spots for those doing business in California is that the property tax burden is relatively reasonable. Even though the state ranks 18th in per capita property tax collections, at least we’re not the worst. (Being “not worst” is a remarkable achievement for the Golden State.) It also helps that Proposition 13 is in the state constitution, giving...