Not only does Prop. 15 exempt ALL residential property from reassessment, but it will also save California homeowners hundreds of millions of dollars on their property tax bills every year!

We know that Prop. 15 will expand our tax base which will generate billions for our schools and communities every year. In addition to that a study by Blue Sky Consulting found that expanding the tax base will also lower the amount that homeowners have to pay each year for local, voter-approved bonds. 

This means that on average, California homeowners will save $121 a year on their property tax bill and in some areas, more than $400 a year! That’s right. When big corporations pay more, your tax bill goes down.

In 1978, according to the Legislative Analyst’s Office, residential properties accounted for 55% of property tax revenue, while commercial, industrial and agricultural properties accounted for the remaining 45%.

By 2018, residential properties were shouldering more than 72% of the property tax burden, while commercial, industrial and agricultural properties only paid 28%, according to data collected by the Board of Equalization.