I can say, with 100% certainty, that Prop 15 will CUT my property taxes by at least $160 per year.
One of its provisions:
“The business tangible personal property tax on equipment and fixtures for small businesses is eliminated.”
This an extremely stupid tax where every year I get a letter from the county asking me to value my business’s office equipment, computers, etc, and then pay 1% of it.
It reality, my business’s various well used PCs and old desks and chairs are not worth $16,000. But I am not fighting over the “suggested” assessment the County sent me, so I just pay the $160 every year.
The reason why this tax is so stupid is the large amount of paperwork involved over petty amounts. It is a bit like making a 16 year old with a part time minimum wage job fill out a full 1040 plus the AMT worksheet.
