Many Californians will be receiving their ballot in the mail this week. Early Edge California recommends a YES vote on Proposition 15.
Schools and Communities First Act
Proposition 15 will raise taxes on big businesses and major corporations, generating an estimated $7-$12 billion per year to support schools and local communities.
Under Proposition 13, passed in 1978, property owners pay tax on the purchase price of a property every year, with only slight increases for inflation. This means that major corporations pay the same property tax on their businesses that they paid in 1978 – dramatically underfunding California’s schools and public services.
Proposition 15 retains the benefits of Proposition 13 for homeowners and small businesses, who would continue to pay tax on their property’s original purchase price. However, land owned by multi-million dollar businesses and corporations would be taxed based on the current assessed value of the property each year.
If passed, Proposition 15 is estimated to generate between $7 billion and $12 billion a year. Sixty percent of funds will go to local governments to be spent on services such as libraries, parks and recreation, fire services and preparing for wildfires, public health, mental health, and homelessness services. Forty percent of funds would be dedicated to the public school system.
The children and families served in Early Learning will benefit from the improved community services and school systems funded by increased tax dollars. We recommend a YES vote on Proposition 15.