Name: California measure to reform Proposition 13 qualifies for ballot
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California measure to reform Proposition 13 qualifies for ballot

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A revised state initiative that would boost property taxes on large commercial and industrial property by allowing it to be reappraised more frequently has qualified for the November ballot.The measure, which supporters say will raise as much as $12 billion each year for schools and local government, would rewrite California’s landmark Proposition 13, a 1978 measure that set limits on property tax increases and allowed both residential and commercial property to be reassessed only when it was sold.The new initiative, dubbedby its authors, would maintain the Prop. 13 limits for small business, agricultural land and residential property, including apartment buildings. But it would require that commercial and industrial real estate be taxed at its full market value, which would be determined by regular reassessments.Financial backing for the split-roll initiative comes from education groups, including the California Teachers Association, and public employee unions, along with a number of community groups and foundations such as the San Francisco Foundation and Chan Zuckerberg Advocacy.Community leaders across the state say the anticipated money is desperately needed, especially in the face of the economic downturn caused by the coronavirus pandemic.Related Stories“When I look at our dire budget deficits over the next couple of years, and then I see these revenue estimates showing how much we can invest in our community without having to raise any taxes on residents, it makes it more important for me to give my full support on this initiative,” San Francisco Mayor London Breed said in endorsing the measure.which include the California Business Roundtable and anti-tax organizations, argue that the initiative is a tax hike under another name and will raise prices for consumers.About Our NewsroomBackers of the initiative that qualified for the ballot Friday well above the nearly 1 million needed to qualify for the ballot.It that was already on the November ballot. Besides cleaning up some technical problems in the original initiative, the revised version adds language to ensure that every school district receives a share of the anticipated windfall, strengthens tax relief for small businesses and toughens zoning language to keep large companies from avoiding the reassessments.John Wildermuth is a San Francisco Chronicle staff writer. Email: Twitter:About Our Newsroom

A revised state initiative that would boost property taxes on large commercial and industrial property by allowing it to be reappraised more frequently has qualified for the November ballot.The measure, which supporters say will raise as much as $12 billion each year for schools and local government, would rewrite California’s landmark Proposition 13, a 1978 measure that set limits on property tax increases and allowed both residential and commercial property to be reassessed only when it was sold.The new initiative, dubbedby its authors, would maintain the Prop. 13 limits for small...

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California measure to reform Proposition 13 qualifies for ballot

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