Monday, April 2, 2012

Bob Sattler, President of Lee Orange on property taxes

Bob Sattler joined Lee and Associates in 1998 after a very successful career at CB Commercial in Anaheim. Bob specialized in the Brea, Fullerton office and industrial market and counts among his clientele Suzuki Motors and the ECCU.

Bob became the President of Lee and Associates, Orange in 2007 and has steered our office through a physical move in locations, the 2008 financial meltdown, and the daily grind of managing 34 entrepreneurs who all "have a say"...all while managing to broker real estate deals simultaneously.

I believe Bob's take on Jerry Brown's plan to increase state taxes is especially important in this fragile California economy.

According to Bob: "It is ironic that on the day the LA Times has a front page article revealing that 64% support Governor Brown's proposed tax hike http://www.latimes.com/news/local/la-me-state-poll-20120326,0,7626225 story, the Wall Street Journal has an editorial that states "the tax increase is simply about the political power to deliver money to the interests that live off government.” http://online.wsj.com/article/SB10001424052702304636404577291981187256416.html?

"California has the fourth highest income tax in the nation. In the '70s when Delaware cut their rate from 19.8% to 10.3% and later to 5.95% after 5 years the state's revenues nearly doubled. The Journal goes on to say "California voters will have to decide whether to ratify this welfare-state redistribution one more time, or finally force the state to confront the limits of tax and spend politics." For the health of the state and of the commercial real estate market we need lower taxes not an increase."