California’s Prop 15 and Measure A Property Tax Increases

Prop 15 is a California state-wide proposition and Measure just applies to the City of San Diego.

GENERAL OBLIGATION BONDS FOR AFFORDABLE HOUSING. To provide permanent and supportive housing for extremely low- to low-income individuals and families, including supportive mental health and substance abuse services, for populations including veterans, seniors, the disabled, youth and the homeless, shall the City of San Diego issue up to $900 million in general obligation bonds financed by property tax assessments estimated between approximately $3 and $21 per each $100,000 of assessed valuation for fiscal years 2022 through 2068.

California’s Prop 15 and Measure A Property Tax Increases

Prop 15

Most small businesses rent from owners whose property is worth $3mil +. Property owners won’t eat the raise in taxes. They will pass it on to the renters. The small businesses won’t eat the raise in rent which will cause them to raise their prices.this isn’t a tax on commercial property owners… it’s a tax on the California consumer. Not to mention, more businesses will leave California because of the ever-reaching tax burden on them. and… the hypothetical situation spoken of will come to fruition within 10 years of the passing of this tax.

No on 15. Not now. We are in a PANDEMIC. In another year, maybe. But businesses are in deep trouble now. Governments are subsidizing businesses. Prop 15 raids businesses. The $3m limit is an arbitrary smoke screen – a strip mall with a few small business tenants can easily go over $3m. The taxes will pass on to the struggling businesses!