Proposition 15 would build a better future for state

Older companies such as Intel pay 50 cents per square foot, while companies with more recently purchased property such as Salesforce are paying $200 per square foot of property.

The global COVID-19 pandemic has revealed the depth of structural racism and systemic inequalities in California again. Decades of disinvestment have burdened our communities, and people of color face the brunt of this historic hardship. We could experience the full extent of this crisis for years to come. But November, California’s registered voters can take bold action toward recovery and reinvestment with Proposition 15.

Prop 15, AKA Schools & Communities First, is a fair and balanced reform that would reclaim $12 billion every year for our schools and local communities. This overwhelming amount of money comes from closing property tax loopholes that benefit California’s oldest and wealthiest corporations, such as Chevron and McDonalds. While Prop. 15 asks these giant companies to pay their fair share, it protects homeowners, does not impact agricultural business and cuts taxes for small businesses that make less than $3 million a year — all of whom have been hit hard by COVID-19.

Here in the Bay Area, legacy tech companies face dramatic property tax discrepancies as a result of loopholes. Older companies such as Intel pay 50 cents per square foot, while companies with more recently purchased property such as Salesforce are paying $200 per square foot of property. Leveling the playing field is not only fair, it would bring an impressive $1.33 billion a year to Santa Clara County and an ongoing $60.5 million to San Jose.

Right now, our schools and local governments are facing unprecedented budget shortfalls. California has the most overcrowded classrooms in the United States and some of the worst ratios of counselors, librarians and nurses per student. In the shadow of centurieslong oppression and discrimination, communities of color struggle disproportionately to access public education and public services.

Our current budget crisis will only make that worse.

That historic disinvestment has life and death consequences when a crisis like this hits. Black and Hispanic people are significantly more likely to die from COVID-19. In California, Latinos makeup 60% of COVID-19 cases yet are 39% of the population. We are more likely to be essential workers on the front lines and, therefore, risk exposure to the virus. Other socioeconomic factors such as overcrowded apartments, mass incarceration and underfunded hospitals all compound our crisis. This injustice should move us toward bold action like Prop 15.

Furthermore, small businesses in communities of color are less likely to receive federal help that they need right now. We should not be balancing our budget on the backs of smallbusiness owners, who we know will be the cornerstone of our economic recovery. Prop 15 allows us to uplift small businesses and support the livelihoods of all working families in California — especially those in communities of color.

According to a recent study, 10% of the biggest properties would generate 92% of the revenue from Prop 15, illustrating that only a fraction of the top corporations benefit from the current unfair system. Instead of giving away billions of dollars in property tax breaks to these wealthy corporations, these billions could be invested in lower class sizes, school counselors, public transit, public health and so many other services that tackle inequity. Let’s build a better future for all and give our communities the chance to get ahead. Now, more than ever, we need to ensure wealthy corporations pay their fair share.

This November, we have a chance to address a historical action with historic boldness. Let’s balance the scales. It’s time to invest in our communities, our economic recovery and a more racially just California. I urge you to join me and vote yes on Prop. 15.