NEWS: Property tax overhaul? Backers of initiative deliver signatures for California’s 2020 ballot

Supporters of a “split roll” plan to eliminate Proposition 13 protections for businesses have submitted 850,000 signatures for a 2020 ballot initiative. If the measure passes, up to $10 billion in new taxes could be assessed annually, according to the Mercury News. Supporters argue the plan would provide new revenue for education and other services, but opponents warn unintended consequences would outweigh the benefits.

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