Special Notice / Hearing: None__
Vote Required: Majority
To: Honorable Board of Supervisors
From: Michael P. Callagy, County Manager
Connie Juarez-Diroll, Legislative Officer
Subject: Resolution in Support of Proposition 15 (2020)
RECOMMENDATION:
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Adopt a resolution in support of Proposition 15, a Statewide Ballot Initiative, "The California Schools and Local Communities First Act."
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BACKGROUND:
Proposition 15 would establish a process by which most commercial and industrial properties are taxed at their fair market value beginning in 2022-23. Because the measure sets a process for assessing commercial and industrial properties that is different from that of residential properties, this measure is also known as the "split roll" measure, referring to the two separate processes for the property tax roll. According to the fiscal analysis prepared by the Legislative Analyst's Office, Proposition 15 is expected to generate between $8 and $12.5 billion in new property tax revenues annually per year statewide.
Increased tax revenues within San Mateo County would be allocated to the County, cities, and special districts, generally in the manner in which they are allocated under current law, after county administration costs are paid for and after the state General Fund is reimbursed for any loses associated with larger corporate and personal income tax deductions. In other words, the County, cities, and special districts would receive their pro-rata share of the increased taxes resulting from Proposition 15. Unlike the proportionate share of the increased taxes received by the County, cities and special districts, Proposition 15 provides that the aggregate pro-rata shares of increased tax revenues attributable to school districts within the County will be deposited in a statewide fund and distributed by the State pursuant to a modified pro-rata formula.
Article XIII of the California Constitution, originally enacted by Propositio...
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