No on Proposition 15
Proposition 15 is yet another attack by the Democrats to weaken Proposition 13.
Proposition 15 is an attempt to split the residential and commercial / industrial property tax into two (2) different tax brackets. The residential would remain under the current property taxation while the commercial would be increased to full market value.
The problem with this is how we define commercial property. Commercial property doesn’t only mean what we see as a business but also includes anyone who leases or signs a rental agreement. Such as apartments, homes, small business or mom and pops stores. Remember, if one signs a rental or lease agreement this is considered commercial property.
This proposition, if approved by the voters, would cause rent on all commercial property to increase. Simply put- we would be voting for a tax increase on our own rent.
But we should ask ourselves a question: who would benefit from this? Not the tax payers or renters but only local, county and state government by generating higher tax revenue for schools, so they claim as they have in the past. So if former propositions passed by voters covered school cost, why do we need another one?
Here is an idea we might want to throw around to consider. What would be an end game for scrapping Proposition 13 by weakening it through all this propositions the democrats keep introducing on the ballots? If all the commercial property tax continues to increase which would then in turn increase our rent, would we not start to complain to our representatives that we can’t afford rent and demand they do something about it? Yes, of course we would. So what could they do for us? Rent control. This could be the democrat’s party end game.
Think about this- if the democrats could introduce rent control, the effect to the rental property would be awful. If the value of the property is at current market value, introducing rent control could cause the owner(s) of that property to limit what they could charge for rent. This would affect whether or not the owner(s) have the money to cover the mortgage because they are forced to limit what they can charge for rent. What could be the outcome to the owner(s)? Dump or walk away from the property because we see this all over the country in run downed cities. Has anyone ever wondered how cities become run down? Think Proposition 15.
Again, I do not support Proposition 15 and encourage all of us to vote no.
We the voters should consider what we are voting yes or no on and also take into account the long term effect on us as tax payers.
For more information about Proposition 15, please visit the link below.