Prop 15 will adjust the formulas used by tax assessors. While the measure does not directly affect homeowners, businesses with under $3 million in California property, or farmland, if Proposition 15 passes it will raise taxes on business property. Those costs would be passed to tenants, leading to higher rents for small businesses. Ultimately, Prop 15 will impact customers and drive up the cost of living.
In these unprecedented times, Californians are already struggling financially. Prop 15 would increase the cost of living and impose a $12-14 billion per year tax hike. In 2020, after facing a pandemic, historic wildfires, earthquakes, and an economic crisis, the last thing California needs is another tax increase. RebuildSoCal Partnership opposes Prop 15 and encourages you to vote “no.”