Peter Verbica Runs for
Board of Equalization

By: Roger Riffenburgh

Santa Cruz County financial advisor and community leader Peter Verbica is running for the state Board of Equalization in the coastal District 2.  As taxpayer advocate endorsed by the Howard Jarvis Taxpayer Association PAC, the contrast with his two Democrat opponents could not be greater.

Peter says “The Board of Equalization needs a clear-eyed fiscal conservative and fair advocate for taxpayers. I’ve seen how unchecked county tax assessors can attempt to do an end-run around the protections of Proposition 13. As a member of the BOE, I won’t let that happen.”

Trained in business, real estate, law, and as a Certified Financial Planner®, Peter brings extensive professional experience to the Board of Equalization.  He is currently a managing partner for two investment management firms.  He worked previously as an Assistant Vice President at Merrill Lynch, in real estate, as a Chief Financial Officer, and in funding tech companies.  He taught as an Adjunct Associate Professor in the Economics Department at San Jose State University.  He is also a published author.

Peter has been active in the community.  As a volunteer, he has actively supported schools, military service men and women, youth ballet, the symphony, Asian-American culture, and California State Parks.

The state Board of Equalization has four elected members plus the state’s Controller.  Each elected member represents nearly 10 million people.  The Second District includes the coastal strip of the state from the Oregon border down the coast to Ventura County.  It includes the entire Bay Area, except for Solano County.  (See the map.)  The seat will be open because the incumbent is running for higher office.

The state Board of Equalization was dramatically restructured in 2017 by new legislation, as a result of audit reports showing misallocation of funds and misuse of staff.  The BoE retains its core constitutional duties, including “adjusting property tax assessments, assessing taxes on insurers, and assessing/collecting excise taxes on alcoholic beverages.”  The collection of sales and excise taxes is now handled by the Department of Tax and Fee Administration, while the Office of Tax Appeals hears appeals on other tax matters.

Peter Verbica grew up on a cattle ranch in the hills of Northern California, where he learned a strong work ethic and an appreciation for the land. He graduated from Bellarmine College Preparatory in San Jose. He earned his BA at Santa Clara University, a JD from Santa Clara University School of Law, and an MS in Real Estate Development at MIT.

His family donated the heart of Henry W. Coe, Jr. State Park, which is now California’s second largest state park. It’s located in the hills east of Morgan Hill and is named after Peter’s great grandfather.

Peter is an unabashed advocate of cowboy culture and enjoys creative writing, hiking, and tennis. He is married and has four daughters.  He’s proud that his oldest daughter served in the US Navy and that his second daughter helped with deforestation issues in the Panamanian rain forest with the Smithsonian Institution.  You can learn more about Peter Verbica’s campaign on his campaign website.