Prop 15 Will Accelerate Gentrification and Endanger Small Business

Prop 15, on the November ballot in the California Election, aims to redefine the way property tax is assessed. The selling point is the big numbers posted of estimated tax revenue. The real cost, however, will be in accelerated gentrification throughout the state, primarily in urban areas and in rural areas that are tourist destinations. The language is troublesome at best, demonizing big businesses and corporations as not paying their fair share, but would drastically have a reverse effect of shutting down smaller businesses it says it aims…