Prop 15: Market Value Property Taxes for School Funding
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In 1978, California voters passed perhaps the most infamous ballot measure in the state’s history. Proposition 13 allowed property to be taxed at the price at which it was purchased, rather than its market value. Critics argue that the drastic reduction in property tax revenue over time has weakened public schools, which rely heavily on that revenue. This year’s Proposition 15 would eliminate Proposition 13's tax protections for larger commercial and industrial properties, generating an additional $6.5 to $11.5 billion per year in tax revenues for local governments and schools.
Judy Lin, assistant editor for CalMatters, and Scott Shafer, senior editor for KQED's Politics and Government Desk, discuss this proposal and what its passage would mean for landlords and schools. Moderated by Loyola Law School professor Jessica Levinson.
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