The Government Affairs Committee has taken action on two General Election Ballot Measures. These include a statewide initiative (Proposition 15), and a local area initiative (Measure RR). The ECA’s position on each of these is as follows:
OPPOSE: Proposition 15
Prop 15 (more commonly known as “Split-Roll” because it would split the property tax roll, assessing business property differently than residential property), would tax such properties based on current market value, instead of purchase price, thereby increasing property taxes on commercial and industrial properties worth more than $3 million. Prop 15 repeals taxpayer protections from 1978’s Prop 13. Under current rules (Prop 13), both residential and business property taxes are calculated based on 1% of their purchase price, and annual increases in property taxes are capped at 2%.
SUPPORT: Measure RR
Los Angeles Unified School District—School Updates and Safety Measure Measure RR would authorize LAUSD to issue $7 billion in bonds levying approximately $0.02174 per $100 of assessed valuation generating an estimated $329,528,000 annually until approximately 2055. Revenues are intended for the update of classrooms/labs/technology for 21st century learning, COVID-19 related safety standards, school facility inequities, asbestos reduction, earthquake and water quality hazards, and replacement/renovation of aging school classrooms and buildings.
Please call me with any questions at 657-281-9720.
Ray M. Baca