SACRAMENTO, CA – Last week, all eleven of the Southern California News Group newspapers published an editorial opposing the proposed $12.5 billion-a-year property tax increase measure headed to the November ballot. The measure, unless defeated by voters, will be the largest property tax hike in state history and will add increased uncertainty to California businesses already struggling to keep their doors open. Ultimately, the measure’s higher property taxes on businesses will raise the cost of living for all Californians as prices will increase on everything they buy and use including groceries, fuel, utilities, day care and health care.
Despite tremendous challenges businesses large and small are currently facing, proponents are pressing forward, recently reporting a massive $2.5 million donation from SEIU California State Council.
Read excerpts of the Southern California News Group editorial, “Split roll measure a bad idea in good times, now even worse” below:
An initiative that would change Proposition 13 to require nearly all business properties to be regularly reassessed to market value has run into the hurricane of coronavirus. What was already a bad idea is now catastrophically misguided…
If or when the commercial property market rebounds, unlimited increases in property taxes would impede economic growth and could drive some businesses to leave the state, taking jobs with them. If values stay depressed, the disruptive change to Proposition 13 would raise far less revenue than predicted.
This is a no-win proposal. The best thing the proponents of the split roll initiative could do right now is withdraw this ill-advised measure.
ABOUT CALIFORNIANS TO SAVE PROP 13 AND STOP HIGHER PROPERTY TAXES
Californians to Save Prop 13 and Stop Higher Property Taxes, a 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.