The League of Women Voters of California along with PICO California cleared a milestone earlier this month in qualifying a measure for the 2020 ballot to split away property taxes for homeowners from those paid by big commercial holdings.
The proposal, dubbed the California Schools and Local Communities Funding Act, could raise as much as $11 billion annually in new revenue by requiring most commercial and industrial property taxes be on fair-market value. Currently, businesses and homeowners both pay property taxes base on the land’s value when it was purchased.
