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Heads Up, Californians

California’s #DeepState Attorney General @XavierBecerra has been successful in clearing the way for a November 2020 ballot initiative that would repeal 1978’s #Prop13 for commercial properties.
This is a so-call “split-roll” initiative that would #tax commercial and industrial properties at current fair-market value rather than the purchase price. An estimate $11 billion in annual proceeds would be distributed about 40% to local schools and 60% to local governments.
Groups backing the California Schools and Local Communities Funding Act include the League of Women Voters @cavotes and the Alliance of Californians for Community Empowerment @CalOrganize as well as some prominent state and local teachers’ unions.
The initiative is opposed by the California Chamber of Commerce @HRCalifornia due to its fears that higher taxes will likely be passed along to consumers, or … businesses may close and relocate to states with a less hostile tax environment.
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