I think Proposition 15 is beneficial for our community, and we should vote yes on it.
Prop. 15 is a new tax policy that will reset the tax rate on commercial or industrial properties if it is passed on the election date, Nov. 3.
This amendment will reset the tax rate on properties that are owned by people with over $3 million real estates. It exempts homeowners and small business owners and promises that they are still under the protection of California Proposition 13 of 1978, which tax the properties on purchased value with an inflation tax rate of equal to or less than 2 percent each year.
If Prop. 15 is passed, the government is expected to gain an estimated $8-12 billion in revenue. It will first be used to decrease personal income tax and corporation tax by increasing tax deduction, then it will be used to pay the cost of implementing the measure. Forty percent of what is left will go to school districts and community colleges.
“To grow our economy and provide a better quality of life now, and for future generations of Californians, we need to do a better job of investing in our schools, community colleges, and local communities,” according to the Yes on Prop. 15 campaign.
Prop. 15 will benefit our community in the long term. CVUSD can get an estimated $5.4 million from its revenue. School districts with more money would mean the teachers can have better pay. The schools will also be able to hire more teachers, thus decreasing the class size. Smaller class sizes create a better environment for students to learn and help them make closer connections with peers and teachers. With more budget, schools can replace old equipment and materials and offer more classes and extracurricular activities for students.
Prop. 15 impacts everyone, because it can change the future. Better education for kids means a more prominent future. Education opens the door to more opportunities and helps to establish a more stable society. Some of the Prop. 15 revenue will also go to special districts, such as BART, Oakland Zoo, and East Bay Regional Park District. The money will also be used to keep water safe and accessible in parks.
We must sacrifice to gain a better future, and we are depending on your vote.