Voters will likely consider a proposal in 2020 to limit Proposition 13’s tax limits to homeowners, boosting assessments on commercial properties and using much of the money on K-12 schools.While the homeowner tax protections of Proposition 13 have remained strongly popular over the last four decades, liberal interest groups and labor unions believed few voters realized that the low-tax rules also applied to multimillion-dollar corporations.
Business groups that funded the opposition effort — contributing to a campaign with combined donations of more than $125 million — sought to divert attention away from large corporations and focus on Proposition 15’s potential impact on small businesses. Their advertising campaign hammered away at the fact that business owners who lease their location are often required to pay some, or all, of the building owner’s property taxes.
It is unlikely that the defeat of Proposition 15 will be the end of the discussion for Proposition 13 critics. The proposal had, who has also suggested broader reviews of California’s tax structure in an effort to limit some of the lingering effects of Proposition 13 — most notably, how the cut in property taxes made government services more dependent on income and sales taxes, both susceptible to rapid up-and-down changes.
Any new effort would likely again be contested by business groups, who argue that California is already one of the most expensive states in the country for entrepreneurs and corporate operations.
Prop 15 was poorly written without cre expert input, but I think the realestate industry will see future Prop 13 reform bills.
“Which would have loosened business property tax rules” Typical dishonest headline from . More like which would have resulted in the largest tax increase on businesses in the history of CA! Our media is garbage.
its progressive til it aint.
People complain constantly about the state of affairs in California, but then vote to maintain the status quo. I really don't want to hear any complaints from anyone who voted to keep things exactly as they are: no whining about the homeless, school budgets, money for roads, etc.
We already have crazy high taxes, why do they need even more money?
That's right. Even California said no to that communist measure.
this repost is getting old. Gad hi fynd
“...Proposition 15, a ballot measure that sought to force large businesses to pay higher property taxes but likely fell victim to concerns about its economic impact on employers and consumers...” Idk what’s going on in Cali but looks like common sense is creeping in.
I love LA but sometimes I wonder if the people living here really want it to be better or if they are all just expecting to hit the lotto.
Let it burn.