The BlueGreen Alliance today announced its support for Proposition 15, which will close corporate property tax loopholes to generate billions in investments for California’s schools and local communities—all while protecting homeowners and renters, small businesses, and agriculture.
“Californians are facing tough times—wildfires, the COVID-19 pandemic, and skyrocketing unemployment—and we need real investments in our schools and basic services now,” said JB Tengco, Western States Director for the BlueGreen Alliance. “Proposition 15 will shore up the basic resources we need to invest in schools, firefighters and wildfire preparation, and relief now during these difficult times and for years to come. We urge voters to say ‘yes’ to Proposition 15 on or before November 3.”
Research has shown that only 10% of the biggest, most valuable commercial and industrial property owners would generate 92% of the new revenue—illustrating the fact that a fraction of top corporations in the state would finally pay their fair share. Moreover, Proposition 15 exempts owners of commercial and industrial properties with combined value of $3 million or less and implements new small business tax cuts.