A new ballot initiative that takes aim at how commercial properties are taxed under California’s Proposition 13 could raise $6 to $10 billion more each year for schools and and other programs and services, according to a new analysis by the Legislative Analyst’s Office. At the heart of the initiative, which is still being reviewed by the state attorney general’s office, is a property tax law enshrined in the state constitution since 1978. Proposition 13 caps taxes for all kinds of properties — residential and commercial — at 1 percent of a property’s purchase price, allowing for increases of no...