Key Facts About Proposition 15, California’s Commercial Property Taxes, and Revenue for Schools and Local Communities
Local tax revenue reflects a community’s shared effort to support vital public services that all Californians need to thrive in our cities and counties. This ranges from education for students in K-12 schools and community colleges to access to housing, health care, public parks, and libraries. These vital public services are supported by tax revenues from commercial and industrial properties – many of which are still taxed based on purchase prices that are more than four decades old. California voters will be asked in fall 2020 to vote on a measure known as Proposition 15.
This amendment to the state Constitution would change how commercial and industrial properties are taxed and provide more revenue for schools and local communities to support services Californians rely upon. This report outlines key facts about how Prop. 15 would change taxes for commercial and industrial properties and increase revenue for local communities.
Ten Key Facts about Proposition 15.
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