SACRAMENTO (CBS13) — A ballot measure that would close a loophole in property taxes for commercial businesses has qualified for the 2020 ballot.
The measure would amend the California Constitution by taking on what’s frequently called a third-rail of state politics, Proposition 13. The 1978 measure limits how much property taxes can increase for certain residences and businesses.READ MORE: 3 Suspected Armed Robbers Shot By Resident At Stockton Home
GET EDUCATED: Read the proposed Constitutional AmendmentREAD MORE: VIDEO: Buhach Colony Parents Get Into Fight With Umpires After Baseball Playoff Game Against Del Campo High School
Home property taxes won’t be the focus of this one. Instead, the bull’s-eye is on commercial and industrial property.
The amendment’s proponents point to a USC study stating commercial and industrial property owners avoid $11 billion in local property taxes that could go to schools and local services including parks and libraries.MORE NEWS: Nevada County Bridge Closed Due To An Accident