It’s hard to know whether a new initiative filed with the attorney general’s office last week is the latest frivolous ballot proposal destined to fall by the wayside, or an important new contributor to the debate over long-term tax reform in California.
Maybe it’s both.
The 47- page proposal, backed by a group of child-poverty advocates and filed by a big-time Democratic political law firm, is the latest entrant into the tax reform discussion that is beginning to heat up, or at least warm up, inside the Capitol.
The initiative proposes increasing property taxes on properties of $3 million or more, while keeping other key Proposition 13 protections in place. Normally, when we hear about property tax hikes in Democratic circles, we’re talking about the so-called split-roll increase on commercial property taxes. This is something different.
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