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Schools & Communities First presentation 9.8.2020
1.
2. Schools and Communities (SCF) First?
Proposition 15
SCF is a Statewide Initiative for the November 2020 ballot.
SCF will reclaim $12 billion annually for schools and
communities
Assesses commercial and industrial properties at fair market
value
Maintains protections for homeowners, apartment buildings and
agriculture
Provides protections for small businesses
4. Average California Family
Income:
$ 61,635
Property Taxes Owed:
$ 0.40 per square
foot
Walt Disney Corporation
Annual income
$42,278,000,000
Property Taxes Owed:
$0.05 per square foot
Example of Unfair Tax Payment
7. WHY SCHOOLS & COMMUNITIES FIRST?
$12B
every year for
schools and local
communities
Reclaims
>4
DECADES
Wealthy investors and
big corporations have
manipulated ownership
to avoid paying their
fair share of property
taxes.
As a result:
California’s school
funding has been
falling behind, and
local services have
been cut.
8. WHO IS IMPACTED BY PROP. 15
Commercial/industrial
properties worth > $3M
(combined per owner)
not used for
residential
purposes
Reassessed
every 3 years
mixed use
properties where
> 75% is used for
residential
EXCLUDED
Residential
property
EXCLUDED
Agricultural
property
EXCLUDED
$$$$$
9. 40 % to Public Schools
K-12 Schools
(89%)
Community Colleges
(11%)
60% Local Government
● Public Transportation
● Affordable housing/homeless
services
● Health Clinics, Trauma centers
● Libraries
● Parks
● Firefighters and First
Responders
● Roads and Bridges
10. 1. PROP 15 passage will make property tax paid by large
corporations and residential property owners more equitable.
2. PROP 15 will generate $12 billion in additional revenue from
only 6% of large property owners:
○ 40% for preK-12 and community colleges
○ 60% for local government and vital services
3. PROP 15 will make California even more attractive for people
and business.
11. LEVELS THE
PLAYING FIELD
WHAT WILL SCF DO FOR BUSINESS?
88%
of all California commercial and industrial
properties have a market value of $3
million or less.
80% of the new revenue comes
from the 6% of commercial and
industrial properties valued over $5
million.
12. WHAT’S THE ACCOUNTABILITY?
STRICT ACCOUNTABILITY and
transparency requirements
LOCAL CONTROL over funding decisions:
both for schools and communities
DEDICATED EDUCATION FUND:
the legislature can’t touch it!
QUICK PITCH INTRO -
Introduce yourself in 1 concise sentence.
What’s your relationship to audience?
California is a state of deep contradictions
● We have the 5th Largest Economy in the World
● Nearly 900,000 millionaires live in California
● 26% of the billionaires in the US live here
And yet…
● We have the highest poverty rate in the country when adjusted for cost of living and 1 in 5 children are living in poverty
● We rank 41st in per-pupil spending, behind Texas and Oklahoma
● We spend more on prisons than education
● Prop 13 caused major disinvestment in our public schools. This law was passed in 1978 and while it helped alleviate the tax burden on long-term homeowners, it completely wiped out thousands of valuable school programs and increased our classrooms ratios. Our schools have now suffered from underfunding for the past four decades.
● We dropped from 7th in per-pupil funding to 41st, behind Oklahoma and Texas
For more than four decades, big corporations have not been paying their fair share
….. leaving California’s school funding falling behind. And local services have been cut.
California now has the most overcrowded classrooms in the U.S. and some of the worst ratios of counselors, librarians, and nurses per student.
Schools & Communities First will reclaim $12B each year to ensure that our schools and communities come first – with the resources to educate all of our kids and the services to support all of our families.
SCF closes a 4-decade-old commercial property tax loophole which a handful of large corporations and wealthy investors have taken advantage of -- at the expense of our schools and communities.
SCF requires that commercial and industrial properties valued above $3M are reassessed every 3 years to determine fair market value, which means they’ll pay their fair share of property taxes, just like most businesses already do.
----
SCF does NOT affect homeowners, renters, or agricultural land. It’s ONLY designed to
SCF levels the playing field for small businesses that are being nickeled and dimed with fees and new taxes while the rich and powerful abuse the tax system to avoid paying their fair share to support our local schools and communities.
Owners of non-residential commercial and industrial property valued at $3 million or less, including the total value of properties in which they have a direct or indirect interest, ARE EXEMPT FROM REASSESSMENT:
88% of all California commercial and industrial properties have a market value of $3 million or less.
80% of the new revenue comes from 6% of commercial and industrial properties valued over $5 million.
ENSURES strict accountability so that money goes directly to our students and communities.
Strict accountability and transparency requirements ensure funds designated for education go to classrooms.
Local control over school funding decisions; local school budgets identify how money is spent and subject to audits
Education money goes straight into a dedicated fund – the Legislature can’t touch it
For example, the funding formula requires a certain percentage of funding be spent on reducing class sizes.
