[Lizavetta]

It’s my understanding that property taxes were capped, if you already owned it. If you sell it, the new buyer pays much more.

Correct. That was Prop 13, passed in the late 1970s.

There is now a Prop 15 on the ballot that is trying to eliminate the Prop 13 protections for commercial real estate, which would tax the property based on current value, not on the purchase price. Imagine how many more businesses would go under if that passed.

NO ON PROP. 15!!

[ridesthemiles]

And-—Prop 15 is only opening the door to also end Prop 13 for residential property.

Keep in mind that Prop 15 isn’t taxing buildings based upon the price paid for it-—they will be back to doing it with assessments....Which can be killer.

[Bon of Babble]

...here is now a Prop 15 on the ballot that is trying to eliminate the Prop 13 protections for commercial real estate

You can be sure if this goes through - and it eventually will - they'll come after the rest of us property and homeowners.

Count on it.