Proposition 15 is a ballot measure that will eventually increase the property taxes on all commercial properties in the State of California. Commercial property will lose the protection of Proposition 13, and it will be taxed at full market value.
This is a great time to raise property taxes with tens of millions out of work, tens of thousands of business closed temporarily or for good. Tourism is so bad that hotels, motels, restaurants, malls, big and small are going bankrupt.
We are in the belly of the COVID-19 beast, and it will be 10 years before we recover from its steamroller effect on our lives. Thousands of businesses will not come back. Large and small companies are going bankrupt every day, as are families. Our homeless population will only grow.