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Following remarks by California Gov. Gavin Newsom supporting Prop. 15, a ballot measure changing commercial real estate property taxation, a coalition of Democrat, Republican and non-partisan local elected officials made public their opposition to the largest property tax increase in state history.
Prop. 15 (named “Schools and Communities First”) would amend the constitution and change the current tax law, which has been in place since 1978. The measure, if passed, would tax commercial and industrial properties based on market value rather than the current method of taxing the purchased price with annual increases of 2% or the rate of inflation, whichever is lower. For now, residential properties would still be assessed by purchase price.
“During this time of pain and uncertainty, Prop. 15 would impose new hardships on consumers, small businesses and farmers when they are already struggling amid the worst recession in decades,” said Kevin Faulconer, mayor of San Diego. “The pandemic is already threatening to extinguish the American Dream for generations of Californians, and we should not make a terrible situation worse by adding higher taxes.”
According to a study by the California State Conference of the NAACP, Prop. 15’s higher property taxes will hurt minority-owned businesses the most.
“It does not help reform the whole of public finances to a more sustainable and fair system to ensure essential services will not again go through the cuts we’ve seen in the recent past. It instead increases the complexity of the tax system, introduces new sources of financial volatility to the schools and local programs, and increases the economic divide in the state by a tax that will benefit the wealthy communities of our state more than the areas that need it the most,” the report states.
For additional information, visit www.NoOnProp15.org, which features helpful tools, including a simple explanation of what split roll is, what it means to Californians, how to contribute financially to the opposition campaign and a robust “take action” section with tips on sharing information with friends, creating social media posts, letters to the editor and “selfie” messages.