The Howard Jarvis Taxpayers Association announced Friday that the Asian American Hotel Owners Association has joined the coalition supporting the Repeal the Death Tax Act, an initiative proposed by HJTA to restore the ability of parents to transfer property to their children without triggering reassessment to current market value and a huge annual tax increase.
“We are pleased and proud to welcome the members of the AAHOA to this effort,” said HJTA president Jon Coupal. “The death tax that was hidden inside Proposition 19, which passed narrowly in November 2020, is an existential threat to family businesses. For hotel owners who have worked for years to build their business and hoped to pass it to the next generation, Prop. 19 has devastated their plans. Now, those properties will be reassessed when transferred to the owners’ children, and it is likely that they will be forced to sell or take on heavy loans, because of massive, unaffordable property tax increases.”
HJTA’s Repeal the Death Tax initiative would restore the law regarding intergenerational transfers as it existed before Proposition 19 took effect, and it would be retroactive, ensuring that any property reassessed due to a parent-child transfer would have its Prop. 13-protected assessment restored.
Currently, more than 3,000 volunteers statewide are circulating the initiative petition for signatures.
AAHOA is the largest hotel owners association in the nation, with Member-owned properties representing a significant part of the U.S. economy. AAHOA’s 20,000 members own 60% of the hotels in the United States and are responsible for 1.7% of the nation’s GDP. More than one million employees work at AAHOA member-owned hotels, earning $47 billion annually, and member-owned hotels support 4.2 million U.S. jobs across all sectors of the hospitality industry. AAHOA’s mission is to advance and protect the business interests of hotel owners through advocacy, industry leadership, professional development, member benefits, and community engagement.
About the Repeal the Death Tax Act
The Repeal the Death Tax Act is initiative No. 21-0015A1, sponsored by the Howard Jarvis Taxpayers Association. It will restore the ability of parents and grandparents to pass property to their children without triggering reassessment and a massive tax increase on long-held family farms, homes, and small businesses. For more information, visit HJTA.org/RepealTheDeathTax
About the Howard Jarvis Taxpayers Association
Founded in 1978, the Howard Jarvis Taxpayers Association is the most influential taxpayer advocacy group in California. HJTA was the organization that passed the historic taxpayer protection measure, Proposition 13, as well as the Right to Vote on Taxes Act, Proposition 218. With offices in Sacramento and Los Angeles and hundreds of thousands of members statewide, HJTA fights to protect taxpayers and to hold state and local government accountable.
Paid for by Repeal the Death Tax, a Project of the Howard Jarvis Taxpayers Association. Committee major funding from Howard Jarvis Taxpayers Association.