Opponents say proposition has hidden agenda; supporters say it will help schools
SACRAMENTO, Calif. —
It’s one of the hottest issues on the November ballot — but it is often misunderstood.
Proposition 15 promises the biggest change in property taxes in 40 years. The measure would raise up to $11.5 billion for schools and local governments, according to the nonpartisan Legislative Analyst’s Office.
Prop. 15 would increase property taxes on commercial and industrial buildings worth more than $3 million by assessing them at how much they could be sold for now — instead of the original purchase price.
“So, we talk about this being a property tax increase,” said Rachel Michelin, head of the California Retailers Association, an opponent of Prop. 15. “I look at it too as a consumer tax increase because we’re going to end up paying more for many of the things we use on a daily basis — groceries, medicines, energy, day care, assisted living for our parents.”
Homeowners are currently protected by Prop. 13 from big tax increases – but opponents insist that will change if Prop 15 passes. They believe that Prop. 15 has a hidden agenda.
“I absolutely believe you open the door a little bit on Prop. 13, they are going to swing it wide open in future elections,” Michelin said.