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California voters to consider property tax overhaul

Proposition 15 on the Nov. 3 ballot would reassess commercial and industrial properties every three years.

SAN DIEGO — For 42 years, California’s limits on property tax increases have been deemed sacrosanct, a third rail for any politician. The system tying taxes to the most recent purchase price now faces one of its biggest challenges. Proposition 15 on the Nov. 3 ballot would reassess commercial and industrial properties every three years, while residential property — including home-based businesses — would remain under 1978 rules. Another ballot measure, Proposition 19, would allow homeowners who are 55 and older, disabled or wildfire victims to transfer a primary residence’s tax base to a replacement home. Early voting starts Monday. 

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