League volunteers helped to gather signatures to put this ballot measure over the top. Read about the enormous efforts that went into gathering over 800,000 signatures to qualify this measure. More details about what passage will mean for you and me, for businesses, for agriculture and what the increased revenue will mean for the entire state.
FROM THE AUGUST 14, 2018 SAN FRANCISCO CHRONICLE - ARTICLE BY JOHN WILDERMUTH
Synopsis of his article
California’s largest companies could find themselves paying an additional $11 billion a year in property taxes under a ballot measure that would dramatically revise the state’s tax-cutting Proposition 13.
Schools and Communities First, a wide-ranging group of community organizations, education advocates, unions and foundations, turned in 860,000 signatures Tuesday that could put that initiative on the November 2020 state ballot.
Under Prop. 13, all California property, residential and commercial, is reassessed only when it is sold. Houses and condominiums, however, can turn over every few years, while many large businesses occupy their land for decades — meaning some have not had property reassessed since Prop. 13 passed 40 years ago.
Supporters include the California League of Women Voters, the American Federation of Teachers, the San Francisco Foundation, the Chan-Zuckerberg Initiative and the Parent Teachers Association of California. The proposed measure has been endorsed by the San Francisco Board of Supervisors, the San Francisco and Oakland school boards and city councils in Oakland, Berkeley and Albany.
What unites them all is the prospect of billions of dollars in new money flowing to local communities and schools.
Under the system for allocating property taxes, about $4.5 billion would go to schools if the measure passed, with the rest flowing to cities and counties. Supporters estimate that San Francisco could receive an additional $835 million a year, with Santa Clara County receiving more than $1 billion, Alameda County getting $553 million and San Mateo County $587 million