California Prop 15 amends the structure to allow commercial properties to be taxed at market model moderately than aquire model. There are exceptions for properties zoned as commercial agriculture and companies valued under $3 million. This proposition revises 1978’s Prop 13, which requires all California properties (residential and commercial) to be taxed at their aquire model with an annual elevate of 2% or inflation, whichever is lower. Of the unique tax income, 60% would toddle to native governments and 40% to highschool districts and neighborhood colleges. Residential properties (i.e. homes) are not affected.
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