They came to raise a ruckus about a corporate tax loophole–enshrined in Prop 13–that needs to be closed. Prop 13 allows corporations to cheat on the taxes they owe.
Brookfield is buying four major downtown LA buildings, but pretending they only worth half the price it’s going to pay for them. Because of the loophole, Brookfield will pay taxes on what the properties were worth decades ago–not what they’re worth today. LA County and City taxpayers stand to lose about $10 million in property tax revenue each year. To working families, that’s a lot of money.
Read the Refund LA report on the Brookfield deal.
What Could $10 Million Buy?
-Free tuition for 8,680 community college students.-50 miles of fixed sidewalks in the City of LA.
-200 more social workers in LA County to protect abused and neglected kids.
“Our County’s children need and deserve more help, more care, more time and more services. We want to provide those things. But if Brookfield makes this deal, it’s not only cheating the public, it is literally stealing services away from our most vulnerable and helpless kids. That’s shameful.”
-David Green, LA County Children’s Social Worker and SEIU 721 Treasurer
Watch Green’s speech:
The protesters spoke out and then tried to deliver a letter to Brookfield urging them to be honest and pay their fair share of property taxes. Brookfield security guards had barricaded the area and refused to let the law-abiding protesters come near their property.
Protesters also urged the LA County Board of Supervisors to go on record supporting a change in state law that would close the loophole.
The action received significant media attention, including an eye-opening article in the LA Times. Click here to read it on SEIU 721’s Facebook page.