WHEREAS, since the passage of Proposition 13 in 1978, cities and counties have faced significant limitations in their main source of funding, the property tax; and

WHEREAS, while the intent of Proposition 13 is to help homeowners, loopholes in the system have permitted major commercial and industrial properties to avoid reassessment, a windfall to commercial property owners at the expense of vital public services, and

WHEREAS, estimates by academic researchers at USC have identified that reassessing commercial property will bring $11.4 billion in property taxes to cities, counties, special districts, and schools and nearly 80% of the revenue will come from just 8% of large properties, owned by corporations and wealthy investors, many of them out-of-state; and

BE IT RESOLVED that the San Francisco Democratic Central Committee support the Schools and Local Communities Funding Act already qualified for the November 2020 ballot that will establish the regular and fair reassessment of commercial and industrial property to market value while protecting small businesses and maintaining Proposition 13 protections for all residential properties including homeowners and renters; and

THEREFORE BE IT FURTHER RESOLVED that the Democratic Central Committee of San Francisco will communicate this position to Democratic elected officials and delegates to the California Democratic Party Convention.

Resolution endorsed by the Sonoma County Democratic Party on May 14, 2019