The California Schools And Local Communities Act, also known as Proposition 15, is a ballot initiative that aims to reform commercial property tax laws in California. The Act seeks to close a loophole that allows large corporations to avoid paying their fair share of property taxes by reassessing commercial and industrial properties at market value. This would generate an estimated $12 billion in annual revenue for schools and local communities.
By voting in favor of Proposition 15, Californians can help ensure that schools and local communities receive the funding they need to provide quality education and essential services to residents. The Act does not affect homeowners or small businesses, only large corporations that have benefited from the current tax system.
Key Points of the California Schools And Local Communities Act
1. Close commercial property tax loophole: The Act would require commercial and industrial properties to be reassessed at market value, ensuring that large corporations pay their fair share of property taxes.
2. Generate $12 billion in annual revenue: By closing the loophole, the Act would generate an estimated $12 billion in annual revenue for schools and local communities, helping to fund essential services and education programs.
How You Can Support the California Schools And Local Communities Act
If you believe in fair taxation and want to support schools and local communities in California, voting in favor of Proposition 15 is crucial. Spread the word about the Act and its benefits to ensure that all Californians have access to quality education and services. Together, we can make a difference for our schools and communities.