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California Voters Narrowly Rejected Prop 15 Split Roll Tax. What Does That Mean For Funding For Schools?

The defeat of Proposition 15, which would have mandated that commercial property values be assessed not based on purchase price but rather on an assessment of their market value every three years, was a blow to advocates who hoped to see the projected $6.5 to $11.5 billion it would have generated in revenue go toward schools and school funding