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by HanayamaTriplet
1325 days ago
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>This is because Prop 13 prevents cities from collecting RISING taxes from residential properties (but they can collect rising taxes from commercial properties) The parenthetical here is incorrect - all property taxes, regardless if they are for residential, commercial, or industrial properties, have capped yearly increases under Prop 13. In 2020, there was a ballot initiative, Prop 15, which proposed a "split roll" to remove the Prop 13 rate caps from certain types of businesses, but it did not pass. You can read more about Prop 15 here: https://ballotpedia.org/California_Proposition_15,_Tax_on_Co... |
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