California Prop 15 amends the constitution to permit commercial properties to be taxed at market brand reasonably than safe brand. There are exceptions for properties zoned as commercial agriculture and companies valued under $3 million. This proposition revises 1978’s Prop 13, which requires all California properties (residential and commercial) to be taxed at their safe brand with an annual carry out greater of 2% or inflation, whichever is lower. Of the new tax income, 60% would slip to native governments and 40% to college districts and team faculties. Residential properties (i.e. homes) are no longer affected.
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