Alliance San Diego says Prop 15 closes property tax loopholes benefiting wealthy corporations
SAN DIEGO (KUSI) -This November, California voters will decide on a measure that is designed to tax large commercial properties worth more than $3 million to raise funds for local governments, public schools and community colleges.
The Executive Director of Alliance San Diego, Andrea Guerrero, joined Good Morning San Diego to explain why voters should choose ‘Yes on 15.’
Guerroro said, “just 10% of California’s most expensive nonresidential commercial properties account for 92% of Prop 15’s loophole-closing revenues.”
Prop 15 exempts homeowners, renters, small businesses and agricultural land so they continue to be protected by Prop 13.
Opponents say they fear it will force the many small businesses already struggling to stay open, to permanently close.