Carol Murota, SCF Coordinator for LWVDV
LWVC is a major partner in writing and driving the initiative called Schools and Communities First that will close the loopholes that allow LARGE corporations like Disney, Walmart, Shell, and Chevron to avoid paying property taxes at the higher rate that newer businesses assessed at current market value pay. LWVC is working to protect ALL properties where people live: homeowners, mobile home residents, renters, PLUS agricultural properties and small businesses!
Did you know California homeowners currently pay 75% of the property tax revenue? Before Proposition 13, homeowners paid 56%. When this initiative passes, businesses like Disney, or the Hotel Bel Air in Beverly Hills, will pay their fair share of property taxes.
An estimated $11 billion in recovered property taxes from commercial properties will be divided between schools and communities. When Proposition 13 passed 40 years ago, K-12 education funding dropped by 60%! California now averages $12,000/student; New York and New Jersey spend over $20,000/student. Time to reinvest in education!
The rest of the $11 billion will go to cities, counties, and special districts who will control how they choose to use their new money—longer library hours, new park facilities or more staff for clinics or emergency response.
80% of this $11 billion will come from only 8% of commercial properties, those worth more than $5 million. It is time for these properties to pay fair taxes on their market value. Additionally, when this initiative passes, all properties (not just our homes) will be reassessed when sold. The loophole that let businesses get around that reassessment will be closed.
Yes, you may recall we helped qualify this initiative last year, but the Schools and Communities First coalition has made some changes that will make it even easier to get this passed on the November 2020 ballot. We are joining the LWVC and other local Leagues and coalition partners to gather signatures to re-file this improved initiative.
Join a core group of our members to gather signatures, educate voters, and get endorsements to get this initiative refiled and passed! The work is fun and you can be as involved as you choose; from signing a petition to speaking to local groups, there is room for everyone. Please email LDVCarol [at] gmail.com if you want to get involved.