California voters face many important choices this November. Proposition 15, also known as the Schools and Communities First initiative, is one of the most significant choices. If enacted by the voters, Schools and Communities First will reform the property tax system in California to distinguish large commercial and industrial properties from residential properties. Under the measure, homeowners and small businesses will retain the protections afforded by Proposition 13, but large commercial and industrial properties will begin paying property tax rates consistent with their market value. If passed, the initiative could raise up to an additional $12 billion in annual revenuefor local governments and public schools.
In anticipation of the decision facing California voters, Silicon Valley Community Foundation has joined with other foundations to establish the Schools and Communities First Research Fund. The purpose of the Fund is to support independent, objective, non-partisan research into the potential impacts of Schools and Communities First. We have identified the best subject-matter experts to examine different issues, and we will continue to publish that research on SVCF’s Schools and Communities First Landing page.
Please continue to reference this page for important updates throughout the next few months. This research will provide an objective look at the main impacts of the Schools and Communities First initiative and will educate and empower California voters to make a clear choice to support Proposition 15 this November.