The Make It Fair campaign is standing up to Trump and making our state more self-reliant by closing a loophole, leveling the playing field, and updating under-assessed commercial properties based on their actual value. Make It Fair will provide $9 billion of annual revenue that can be used to protect education, health care and the other services we care about from Trump’s cuts while protecting small businesses and reaffirming Prop 13’s protections for homeowners. This common sense correction to our property tax system will generate billions of dollars in desperately needed revenue by updating under-assessed commercial properties based on their actual value and creating a level playing field for all businesses.
- Make It Fair is a constitutional amendment to reform commercial property taxes, while maintaining existing protections for residential property and agricultural land.
- Make It Fair will close a major corporate tax loophole by requiring all commercial and industrial properties to be assessed at fair market value, putting California on par with how the vast majority of the country assesses these properties. California’s commercial property taxes will still be among the lowest in the country because of Proposition 13’s limits on property tax rates, which Make It Fair does not change.
- Make It Fair will restore over $9 billion a year for services that all Californians rely on. Roughly half of the new revenues, $4.5 billion, will fund K-12 schools and community colleges. The remainder will be shared by counties, cities and special districts to fund community health clinics, trauma care and emergency rooms, parks, libraries and public safety.
- Make It Fair will improve the business climate for new investment, stimulate economic growth, increase housing production, create jobs and provide tax relief to small businesses with full transparency for the public.
- Make It Fair also benefits small businesses in three ways: it eliminates the burdensome personal property tax on fixtures and equipment (the business personal property tax) for all small businesses, it exempts owner operated small businesses from reassessment until they are sold, and it levels the playing field so small businesses can compete more fairly with big corporations.
- Make It Fair will also allow for a phase-in period for both commercial property owners and assessors to smooth the transition to a new system.