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By Jon Coupal
By now, nearly half of all Californians have already voted in the general election. But that means millions have not and many of them may still be confused about the myriad of choices they confront.
This column is for those who may still be undecided on which propositions present the biggest threats to taxpayers and property owners. These threats will be ranked by order of the most dangerous.
By far, the most existential threat to taxpayers and the protection of Proposition 13 is Proposition 15, a property tax increase of up to $12 billion on commercial and industrial property, and on the small business tenants who rent those spaces.
Higher costs for business — large and small — mean higher consumer prices.
California’s high cost of living has already driven millions of middle-class citizens out of the state.
Moreover, the proponents of this tax increase have admitted that $12 billion won’t to satisfy their infinite appetite for tax dollars.
So, if Prop. 15 passes, homeowners are rightfully afraid of being next on the menu. Prop. 15 is a big “no” vote for anyone concerned about preserving Prop. 13.
Second on the “Hall-of-Shame” list for taxpayer threats is Proposition 19, which would nearly eliminate provisions in the state constitution that protect the ability of parents to transfer property to their children without triggering a big increase in property taxes. Prop. 19 is a billion-dollar tax increase on California families that also deserves a big “no” vote.
Third, we have the “deja-vu” initiative on rent control. Prop. 21 is virtually identical to Proposition 10 on the 2018 ballot that voters overwhelmingly rejected. Proposition 21 would change state law to allow radical rent control laws to be passed in cities that are already suffering from an inadequate supply of housing. California’s nonpartisan Legislative Analyst’s Office issued a report finding that expanding rent control “likely would discourage new construction” by limiting the profitability of new rental housing. Prop. 21 is a big “no” vote.
To read the entire column, please click here.
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