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Proposition 15 asks California voters to hike property taxes on big businesses, raising billions for schools and local governments. 

Currently, owners pay property taxes based on the price they originally paid for that real estate — typically a lot less than what it’s worth today. If this measure passes, property taxes for many large businesses would be elevated to the property’s current, probably higher, market value. That would net $6.5 to $11.5 billion — 60% for cities,