California Propositions – 2020 – Proposition 15
- By : Carey Sanchez Para
- Category : 2020 Propositions, State of California
- Tags: 2020 Propositions; Proposition 15
As with other election years, California voters have quite a few propositions to sort through, 12 in all. And while COVID19 prevents Castro Valley Matters from hosting our popular Pizza & Propositions event, we plan to highlight and, in some cases, help demystify some of the propositions in our our ongoing California Propositions-2020 blog series. All eligible voters will be mailed a vote-by-mail ballot beginning October 5th for the November 3rd general election. October 19th is the deadline to register to vote in Alameda County. For more information, see the link at https://www.acvote.org/index. Ballots can be tracked using the “voter profile” link at https://www.acgov.org/rovmvp_app/mvp.do.
First up, Proposition 15, known as the “split roll” property tax, aims to amend Proposition 13 passed by California voters back in 1978 regarding reassessing commercial and industrial property only, not residential property.
| Prop | Name | Brief Description |
| 15 | California Schools and Local Communities Funding Act of 2020 | Will allow reassessment of commercial and industrial real property based on fair market value in excess of $3 million. Preserves Prop 13 protections for homeowners and for residential rental properties. |
Property taxes on commercial and industrial properties are the primary source of funding for schools and local communities. Reassessing under-assessed commercial and industrial property in California would mainly impact a small number of properties owned by the largest corporations and wealthiest investors. An estimated $6.5 – $11 billion dollars in currently under-assessed property taxes would go to public schools, community colleges and local cities, counties, and special districts. No additional funds from this proposition would go to the State of California.
| What a “Yes” Vote Means | What a “No” Vote Means |
| A “Yes” vote on Proposition 15 means voting to reassess large commercial and industrial property only (not residential). | A “No” vote on Proposition 15 means to keep the current commercial and property taxing structure “as is” tying it to the original property purchase price. |
The following people and organizations have either endorsed Proposition 15 and urge you to vote “Yes” or are opposed to Proposition 15 and want you to vote “No”.
| Wants You to Vote “Yes” | Wants You to Vote “No” |
| California Teachers Association, the state’s largest union of teachers Chan Zuckerberg Initiative, a philanthropic corporation co-founded by Facebook CEO Mark Zuckerberg SEIU California State Council, the political spending arm of the Service Employees International Union in California | California Business Roundtable, an industry group for the state’s largest businesses California Taxpayers Association, a low tax advocacy group California Farm Bureau Federation |
Need to know more? CalMatters.org is a terrific resource. Use the links below to find more details on this proposition.
Thanks Carey, and CVM. The annual review of propositions in an unbiased way is always super helpful to so many to avoid confusion from poorly worded descriptions. And, frankly, it calls attention to these very important opportunities for change that might not get the attention they deserve. Thanks for doing the work!