This November California voters will be voting on Proposition 15. The ballot initiative that will raise property taxes on commercial and industrial properties in California.
The official name for the ballot measure is “Increases Funding for Public Schools, Community Colleges, and Local Government Services by Changing Tax Assessment of Commercial and Industrial Property. Initiative Constitutional Amendment”
This will not affect personal property taxes, but opponents fear this is just the first step in rolling back Proposition 13 propositions which was approved by voters in 1978.
The ballot summary is as follows: