FOR IMMEDIATE RELEASE

June 22, 2026

CONTACT: Matthew Hargrove

(916) 248-9533

California Business Properties Association

Statement on Property Transfer Tax Deal

Matthew Hargrove, President & CEO, California Business Properties Association, issued the following statement regarding the property transfer tax deal:

CBPA supports the agreement reached by stakeholders which offers a solution to high property transfer taxes in lieu of a November initiative.

The statewide framework contained in AB 736 sets statewide limits on excessive transfer taxes and provides guardrails against future transfer taxes that could negatively impact economic activity.

The agreement provides greater certainty for commercial and residential investment by directly addressing the challenges and unpredictability caused by unfeasibly high transfer taxes in cities such as Los Angeles and San Francisco.

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Established in 1972, CBPA proudly serves as the legislative and regulatory advocate for property owners, tenants, developers, retailers, contractors, land use attorneys, brokers, and other professionals in the commercial real estate industry representing their legislative and regulatory interests in California’s Capital and in Washington, D.C. 

CBPA is the largest commercial real estate consortium with over 10,000 industry members and is the designated legislative advocate for ICSC, the California Chapters of the Commercial Real Estate Development Association (NAIOP Cal), the Building Owners and Managers Association of California (BOMA Cal), the Retail Industry Leaders Association (RILA), and the Association of Commercial Real Estate – Northern and Southern California (ACRE), and AIR CRE.