THE SOLUTION: PROP 15 PROTECTS
AGRICULTURAL LAND & SUPPORTS SMALL
Prop 15 exempts all agricultural land, making no change in existing laws affecting the taxation or preservation of agricultural land.
Prop 15 exempts all farmhouses and housing for agricultural workers
Prop 15 exempts farmers owning $3 million or less of commercial or industrial property – this exemption is in addition to the exemptions for agricultural land and farm housing.
Prop 15 eliminates the business personal property tax on farm equipment and fixtures for small farmers and provides a $500,000 exemption on farm equipment and fixtures for other farmers.