by The Editorial Board at The Orange County Register
January 1, 2018
Not for the first time, an effort is underway to persuade voters to “reform” Proposition 13 and raise property taxes.
“The California Schools and Local Communities Funding Act of 2018” was filed in mid-December with the attorney general’s office. It aims to raise $11 billion per year by removing Prop. 13 protections from industrial and commercial properties, reassessing them based on the unrealized, paper profits from rising real estate values.
However well-intentioned the backers of this initiative may be, it is reckless to impose a massive tax increase on nearly all California businesses, simultaneously and repeatedly.
If raising taxes was the solution to every problem, California would have no problems. The Golden State boasts the nation’s highest income tax rate and sales tax rate, and we’re within an eyelash of defeating Pennsylvania for the title of highest gas taxes.
Read more at The Orange County Register