Pasadena Education Network Endorses Prop 15, In Addition to Measure O

In addition to Measure O, the Pasadena Education Network (PEN) Board of Directors also endorses Proposition 15.

“Our children – and the educators who work so hard to help them realize their potential – deserve our support. That’s why we endorse Proposition 15.”

Proposition 15, the Schools & Communities First initiative, can help reverse decades of disinvestment in our children, generating up to $4.1 billion in new revenue every year for California’s K-12 schools, including an estimated $10.9 million/year in additional revenue for Pasadena Unified School District. The measure guarantees that the new Prop 15 revenues will add to existing state funding, and cannot be used to replace other funding. The funds will be disbursed equitably, based on student need, using the current Local Control Funding Formula (LCFF), and spent according to our district’s Local Control Accountability Plan.

Prop 15 generates new revenue not by raising tax rates, and not by taking existing protections away from homeowners, renters, and small businesses, but by closing a loophole that has allowed the wealthiest corporate property owners and investors to avoid reassessment of large commercial properties on a regular basis. Because most commercial property owners are already paying taxes based on the fair market value of their properties, 92% of the revenue Prop 15 will raise will come from 10% of the state’s commercial property.

Pasadena Education Network (PEN), 3579 E. Foothill Blvd. #481, Pasadena, (866) 216-7334 or visit www.penfamilies.org.