By: Anya Brink, Isabella Shears-Macnab, and Nakaia Schott 

What is it?: Proposition 15 would generate $6.5-$11.5 billion annually for local government services and education. The money would come from a “split roll” property tax system that would increase taxes on large commercial properties by taxing them at market value. Property tax would not be changed for renters, homeowners, or small businesses. 

History of Prop 15: Proposition 15 would adjust the terms of the original 1978 California Proposition 13 which decreased property taxes by assessing the properties at their respective values. This proposition led to a 60% decrease in property tax revenue collected by the states, leading them to rely on sales tax as well as California’s personal income tax. Under Proposition 13, the tax on property is limited to 1%, with a maximum increase of 2% a year. 

Vote Yes on Proposition 15: Those who support prop 15 want more funding for education. Many in support of this proposition do not own large properties; the tax increase will not affect them financially. 

Vote No on Proposition 15:  Those in opposition to Proposition 15 do not want to pay higher taxes on their homes. Many of these people are wealthy landowners with multiple high-value properties. Increasing the taxes on their properties would decrease their wealth, as the taxes on the property would go from the amount when they purchased the house to the current amount. 

Where Is the Money Coming From?: The money for Proposition 15 would come from increased taxes on large commercial properties with a value of more than $3 million. The money will NOT come from increased property taxes on renters, homeowners, or local businesses.