Measure on the ballot in the 2020 California General Election in California.
View your personalized ballot, check your voter registration, make a plan to vote, and research every name and measure on the ballot with BallotReady.
Get StartedTaxes 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.
A "YES" vote on Proposition 15 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.
A "NO" vote on Proposition 15 means: Property taxes on commercial properties would stay the same. Local governments and schools would not get new funding.
We are all better off when everyone pays their fair share. But California is giving away billions of dollars in property tax breaks to wealthy corporations. These billions could be used instead to deal with increasing inequality, persistent poverty, unemployment, unaffordable housing, homelessness and underfunded schools., in support of Proposition 15 (Learn more)
Prop. 15 is a fair and balanced reform which: closes property tax loopholes benefiting wealthy corporations, cuts small business taxes, /\[and] reclaims billions of dollars to invest in our schools and local communities., in support of Proposition 15 (Learn more)
Prop. 15 gives local communities desperately needed resources so essential services and frontline workers can respond to current challenges and prepare for future crises, whether from a wildfire, pandemic, or earthquake., in support of Proposition 15 (Learn more)
Prop. 13’s taxpayer protections have kept property taxes affordable by capping property taxes and limiting increases annually, providing taxpayers certainty they can afford their property taxes now and into the future. Prop. 15 eliminates that certainty for millions of taxpayers., in opposition to Proposition 15 (Learn more)
“Prop. 15 is a direct threat to homeowners. Supporters of the tax hike openly admitted that this is merely the first step in completely dismantling Prop. 13 which voters approved to stop skyrocketing property taxes.”, in opposition to Proposition 15 (Learn more)
“Too many families have been priced out of their neighborhoods because of the rising cost of living. Prop. 15 will raise the cost of living for California families by up to $960 and will especially hurt lower-income communities.”, in opposition to Proposition 15 (Learn more)
Increases funding for K-12 public schools, community colleges, and local governments by requiring that commercial and industrial real property be taxed based on current market value. Exempts from this change: residential properties; agricultural properties; and owners of commercial and industrial properties with combined value of $3 million or less. Increased education funding will supplement existing school funding guarantees. Exempts small businesses from personal property tax; for other businesses, exempts $500,000 worth of personal property. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: Net increase in annual property tax revenues of $7.5 billion to $12 billion in most years, depending on the strength of real estate markets. After backfilling state income tax losses related to the measure and paying for county administrative costs, the remaining $6.5 billion to $11.5 billion would be allocated to schools (40 percent) and other local governments (60 percent).
View your personalized ballot, check your voter registration, make a plan to vote, and research every name and measure on the ballot with BallotReady.