California Prop 15 amends the constitution to permit commercial properties to be taxed at market imprint moderately than aquire imprint. There are exceptions for properties zoned as commercial agriculture and corporations valued underneath $3 million. This proposition revises 1978’s Prop 13, which requires all California properties (residential and commercial) to be taxed at their aquire imprint with an annual delay of 2% or inflation, whichever is lower. Of the fresh tax income, 60% would scoot to native governments and 40% to faculty districts and community faculties. Residential properties (i.e. homes) aren’t affected.
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