California Prop 15 amends the constitution to allow commercial properties to be taxed at market price as a change of resolve stamp. There are exceptions for properties zoned as commercial agriculture and companies valued beneath $3 million. This proposition revises 1978’s Prop 13, which requires all California properties (residential and commercial) to be taxed at their resolve stamp with an annual enlarge of 2% or inflation, whichever is decrease. Of the unusual tax income, 60% would budge to local governments and 40% to faculty districts and community faculties. Residential properties (i.e. properties) are no longer affected.
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