Taxes such properties based on current market value, instead of purchase price. Fiscal Impact: Increased property taxes on commercial properties worth more than $3 million providing $6.5 billion to $11.5 billion in new funding to local governments and schools.
YES A YES vote on this measure means: Property taxes on most commercial properties worth more than $3 million would go up in order to provide new funding to local governments and schools.
NO A NO vote on this measure means: Property taxes on commercial properties would stay the same. Local governments and schools would not get new funding.
PRO Prop. 15 is a fair and balanced reform that: closes property tax loopholes benefitting wealthy corporations, cuts taxes for small businesses, protects homeowners and renters, requires full transparency and reclaims billions of dollars for schools and local communities. Supported by nurses, teachers, small business owners, affordable housing advocates and community organizations.
CON Prop 15 is a $12.5 billion property tax increase that raises our cost of living and makes everything we buy – food, gas, utilities, day care and health care – more expensive. Prop 15 repeals taxpayer protections in Prop 13. NO on Prop 15!