Mercury News and East Bay Times Editorial: “Prop. 15 won’t fix biggest California property tax problem”

Mercury News and East Bay Times Editorial Board says Prop 15 “would apply more Band-Aids and layer more complexity onto an already-broken system” 

SACRAMENTO, CA – Last week, the Mercury News and East Bay Times released the latest editorial to urge a NO vote on Proposition 15. The Editorial Board urges voters to reject the largest property tax increase in state history as it would add more layers to a broken tax system while hurting many small businesses who can least afford it.  To date, 15 California newspapers have lined up in opposition to Prop 15.

Read excerpts from “Prop. 15 won’t fix biggest California property tax problem” below:

“California’s property tax system is a mess. Proposition 15, the ‘split roll’ measure on the Nov. 3 ballot, attempts to fix it. Unfortunately, it only makes matters worse.

 “The solution is not to apply more Band-Aids and layer more complexity onto an already-broken system. And it certainly doesn’t make sense to increase taxes on businesses when many of them can least afford it…

 “Under the measure, most owners of commercial and industrial properties would pay higher taxes based on the current market values of their parcels…

 “The higher taxes in many cases would be passed on to the tenants of those commercial and industrial property owners. In short, it’s a tax on businesses, often small businesses, at a time when they can least afford it…

 “Nevertheless, the measure would increase the total property taxes collected statewide by an estimated $8 billion to $12.5 billion annually by 2025. Indeed, backers of Prop. 15 are pitching the measure as a way to raise more money for schools, even though schools would receive only about 40% of the new money available after administrative costs…

 “But the rationale for the measure is questionable…

 “There are serious inequities in California’s property tax system that should be addressed. But Prop. 15 misses the mark. Vote no.”

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ABOUT NO ON PROP 15 – STOP HIGHER PROPERTY TAXES AND SAVE PROP 13
No on Prop 15 – Stop Higher Property Taxes and Save Prop 13, a bipartisan coalition of homeowners, taxpayers, and businesses, has been fighting to protect Prop 13 and oppose a split-roll property tax for more than a decade. For more information, please visit www.NOonProp15.org.