2020 Ballot Proposition. Roll Back Property Tax Cap in California

What: Prop 15 (2020 | CA)

How will prop 15 work?

• Applies only to commercial and industrial properties
• Excepted commercial property: commercial agriculture
• The new property tax would be based on market value
• The estimated revenue: $8 billion and $12.5 billion in revenue per year

Supporters say:

• These taxpayers have had tax breaks for years
• The proposition will only affect big businesses worth at least $3 million
• Entrepreneurs and farmers will not be impacted

Opponents say:

• California already has unfriendly business tax laws

NY Times | California Tax Revolt Faces a Retreat, 40 Years Later