|Vote NO on Prop 15: Split Roll Property Tax Measure|
The best way to describe what is going on with Split Roll was given by previous California Governor Jerry Brown: “Messing with Prop 13 is a big, fat loser.”
Enabling Split Roll would be devastating to the commercial real estate community by increasing property taxes by millions of dollars a year. It is imperative to support advocacy efforts in this time and let your voice be heard.What would Prop 15 do?
A Split Roll tax would disable California’s desirable Proposition 13 protections for commercial properties.
Currently, the value on which property taxes are based is only reassessed with a change in ownership. If there has been no change in ownership since 1978, then the value remains at the one assessed in 1976.
If Prop 15 were to pass, these rules would be stripped from commercial property owners, and the value of a property would be assessed every 3 years, regardless of a change in ownership.
What does the new tax initiative actually mean?
The new tax initiative is titled, “Increase funding for public schools, community colleges, and local government services by changing tax assessment of commercial and industrial property.” The root of the problem is missing from this title as well as the summary that follows it: Split Roll is a massive tax increase.
While the term tax assessment is technically accurate, it is far from the whole truth. It was divisively used in favor of a term like “tax increase” because voters tend to oppose tax hikes.
Why is the language divisive?
Titles and summaries are crucial to the success of an initiative because that’s most likely the only thing voters read before casting their ballot.