Small local businesses are among the highest risk group should Prop 15 pass. Many small businesses rent the space in which they operate, and leases often require tenants to pay property taxes on the building they occupy. Prop 15 will drive their cost of doing business even higher when the state and federal governments are attempting to offer rent relief to companies renting space. So, if Prop 15 passes, small businesses will have higher costs, more need for relief funding, and face a significant chance of layoffs and closures, all while leaving the consumer higher prices and fewer options.
If this wasn’t enough, the impacts on local governments are tremendous. Estimations conclude that 900 new assessors will be required across the state to handle reassessment of all properties affected by the proposition, an estimated expense of $1 billion in the first three years of implementation. These assessors would be county staff. And while 900 new jobs may sound appealing, county budgets are already suffering, and Prop 15 does not guarantee local agencies will receive any additional funding as it claims.
While it claims to fund local schools, Prop 15 prioritizes schools third in line behind bureaucrats and local jurisdictions. And like the state and local governments, any funds received from Prop 15 are considered general funds and can be used for anything approved by the governing body. With no specific projects or needs tied to the funds, taxpayers will have no say in how their money is spent.
The private industry understands that higher taxes result in slow economic growth. Slow growth means fewer jobs and a higher cost of living. Proposition 15 is a tax on life’s fundamentals. Do not approve a proposition adding to the tax bill in California. We live in the best state in the nation; let’s keep it that way by voting no on Proposition 15 this November.
Dusty Ference is the Executive Director of the Kings County Farm Bureau.
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