The gist

Proposition 15 says it increases funding for public schools, community colleges and local government services by changing tax assessment of commercial and industrial property.

It will increase property taxes on commercial properties worth more than $3 million and will provide approximately $6.5-11.5 billion in new funding toward local governments, schools and community colleges.

Supporters believe this closes property tax loopholes benefiting wealthy corporations, cuts taxes for small businesses, protects homeowners and renters, requires full transparency and reclaims billions of dollars for schools and local communities.

Opponents argue it would be senseless to pass one of the biggest tax increases in California history in the middle of a pandemic. And while small businesses are technically exempt, large landlords may end up passing the costs to some of their tenants and customers.

What the media is saying
To Better Understand Prop 15, We Took A Trip To One Of California’s Top Malls, LA ist (article)

Which businesses would pay more property tax under Proposition 15? It’s complicated, Los Angeles Times (article)

Breakdown of Proposition 15, KRCR (article)

Supporters

• Joe Biden
• Gavin Newsom, Governor of California
• Cory Booker, New Jersey state senator
• California Teachers Association
• Democratic Party of California

Opponents

• Vince Fong, California State Assemblymember
• Republican Party of California
• California Chamber of Commerce
• California Retailers Association

For more information about Prop 15, go to ballotopedia.org.