I live in California, and I have a question regarding Proposition 15, which is on our ballot on the November 3 election. This proposition would alter the well-known Proposition 13, which was passed 1978. I used to think that Proposition 13 was a good thing. But then I read this article from Strong Towns: https://www.strongtowns.org/journal/2018/7/20/mapping-the-effects-of-californias-prop-13. Now I am questioning whether or not it was good for California because such a drastic freeze on taxes greatly decreased the inflow of funds into the State of California's budget. Also, it caused new homeowners to bear the brunt of property taxes.
Regarding Proposition 15, it would alter what Proposition 13 put into place and allow commercial and industrial lands to be taxed based on their current sale value, and not the original purchase price. Generally, I don't vote for new taxes, but I'm wondering if this might actually be a good thing. I don't necessarily agree with how the State of California uses its funds, but I'm opening to actually voting yes for this proposition. Do any of you have any thoughts on this? Thanks!