California voters ‘have had enough’ of the state’s ‘disastrous’ taxation, real estate leader says

September 29, 2026 - 20:06

A prominent real estate executive says California voters are growing tired of the state's tax policies as support drops for a proposed wealth tax aimed at the ultra rich.

Aaron Kirman, founder and CEO of Christie's International Real Estate Southern California, told Fox News Digital that residents have reached a breaking point. He pointed to the so called billionaire tax as the latest example of policies that drive high earners and businesses out of the state.

The proposal would impose a one time tax on the wealthiest residents, with the revenue intended to fund public services. Supporters argue it would close budget gaps without raising taxes on working families. Critics warn it would push entrepreneurs and investors to leave, shrinking the tax base over time.

Kirman said the debate carries major stakes for the housing market. When wealthy residents relocate, demand for high end properties weakens, and state revenue tied to real estate transactions can fall. He added that uncertainty around tax policy makes long term investment harder to plan.

The measure still needs approval before it can appear on a ballot. For now, the falling support suggests voters are skeptical of new taxes, even when they target only the richest households.