California Split Roll - Proposition 15

On July 1, California’s Secretary of State Alex Padilla assigned a proposition number to various ballot measures that have qualified for the November 3, 2020, General Election. The split roll referendum is Proposition 15 and is described by the Secretary of State’s office as a measure that “Increases Funding for Public Schools, Community Colleges, and Local Government Services by Changing Tax Assessment of Commercial and Industrial Property. Initiative Constitutional Amendment.” The change in assessment comes from eliminating the ceiling on commercial property taxes and requiring all commercial property taxes to be immediately re-assessed to 2021 market values.

The ballot measure will have a cascading effect impacting property owners, consumers and the communities where they live. Property taxes will double, or even triple, with those costs ultimately being passed on to all Californians. 

The reasons to oppose Proposition 15 are simple:

• Proposition 15 is an unprecedented tax increase that will double or even triple property taxes.
• Proposition 15 will lead to over 120,000 lost jobs.
• Proposition 15 will increase prices on goods and services for all of us.

ICSC is working together with the California Business Properties Association, the California Business Roundtable and a host of other groups to educate and inform voters of the realities of Split Roll.  Please visit www.icsc.com/splitroll or contact Betsy Laird (blaird@icsc.com) with any questions.