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Mark Zuckerberg is spending millions like never before to overhaul Prop 13


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2020 Oct 15, 7:11pm   2,334 views  80 comments

by Patrick   ➕follow (59)   💰tip   ignore  

https://www.vox.com/recode/21508914/mark-zuckerberg-priscilla-chan-proposition-13-split-roll-california-politics

When Proposition 13 passed in California four decades ago, it capped both residential and commercial property taxes by assessing most property’s value based on how much it was worth as far back as 1976, with minimal established tax increases. Homeowners and businesses alike embraced the legislation, but critics say it has left California with far less money for schools, roads, and other social services for its 40 million residents. Studies say that California, which has the highest poverty rate in the country and is grappling with a housing crisis, needs as many as 3.5 million new homes by 2025 and $22 billion more in school funding.

This year’s Proposition 15 would reform Prop 13 so it only applies to residential and agricultural properties. Homeowners’ taxes would stay the same while many businesses’ property tax payments would go up. That’s why it’s called “split roll.”

The split-roll fight was expected to be explosive — but then the coronavirus pandemic overwhelmed California politics and took up voters’ attention. That might be why you haven’t heard as much as you might think you would about the chance to finally amend a landmark law that undergirds so much of life in California. The most recent polls have shown the split-roll effort with just over 50 percent support.


I agree with Zuckerberg on this one.

Commercial property should not be exempt from property tax increases because businesses can live forever, never resetting their tax basis.

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79   porkchopXpress   2020 Oct 20, 8:29am  

CashWillCrash says
Why would anyone support higher taxes in a state that already has the highest taxes?
We're only supporting fairer taxes that get levied equally.
80   SunnyvaleCA   2020 Oct 20, 11:43am  

NuttBoxer says
Patrick says
Commercial property should not be exempt from property tax increases because businesses can live forever, never resetting their tax basis.


Fuck! California already has one of the most unfriendly private business environments in the country. And that's despite Prop 13. Prop 15 will just accelerate the bloat in the most bloated public sector in the US. Don't hold your breath waiting for those trickle down tax dollars to make it to you..

"Business unfriendly" cuts both ways with Prop 13. If you want to build a new business, you'll be paying full taxes on your new building whereas your competition, entrenched for 20 years, will be paying almost nothing. So, in this case, Prop 13 further stagnates the business environment.

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