With 15 Days until Election Day, Here’s How Californians Can Expect a Higher Cost of Living Under Prop 15
SACRAMENTO, CA – As Election Day nears, it is becoming more evident with each passing day that Prop 15’s $11.5 billion property tax increase, the largest property tax increase in California history, will be paid by small businesses and consumers—not large corporations and wealthy landowners. That’s because small business tenants are often required to pay property taxes in their lease agreements. Small business tenants will have no choice but to pay the skyrocketing property tax bill and pass on higher costs to consumers, with some even going out of business.
Studies from the California State Conference of the NAACP, Berkeley Research Group, and Pepperdine University conclude that taxes like Prop 15 will raise the cost of living. Whether it’s everyday essentials like groceries for the pantry or a family night out, the cost of the largest property tax increase in state history will ultimately be paid by consumers.
“Based on my existing lease, my neighborhood restaurant is responsible for half of the property tax bill for our building, which means my cost could increase six-fold,” said Laurie Thomas, owner of two restaurants in San Francisco and executive director of the Golden Gate Restaurant Association in San Francisco. “Add to that the increased cost of providing PPE, costs of building outside seating, and the increases in food supplier costs, and this will significantly stress our limited finances, putting in jeopardy our ability to continue to operate.”
Here are 15 areas Californians will pay more unless voters reject Prop 15:
And we know from 42-years of statements by Prop 15’s authors that homeowners will be next!
For example, Prop 15’s impact on the cost of food compounds as a product goes from farm to processing to the consumer—creating higher costs every step along the way.
“Under Prop 15, California farmers will face higher property taxes-and families will face higher prices for food as the increase in taxes from the farm through processing, distribution, and our neighborhood grocery stores. Ultimately, the measure could lead to fewer California-grown food choices and higher costs for families,” said Jamie Johansson, president of the California Farm Bureau Federation.
Prop 15’s flawed design means that virtually every industry will be impacted and will see their costs rise which will be passed along to their customers.
“California’s cost of living is already among the nation’s highest,” concluded John Kabateck, state director of the National Federation of Independent Business – California. “With an $11.5 billion tax increase, all of us will pay for Prop 15’s massive tax hike. With millions out of work, this tax measure could not come at a worse time for families.”
Follow the NO on Prop 15 Facebook page for the next 15 days to learn each day how the cost of living will rise under Prop 15.
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.