Sacramento, CA – Today, California YIMBY announced it has joined a growing coalition of over 300 California education, health, civil rights, labor, and equity organizations to support the Schools and Communities First campaign, which could raise over $11 billion annually for urgently-needed school and community infrastructure projects by closing a 40-year-old tax loophole for large corporations and wealthy investors.
The campaign seeks to place an initiative on the November 2020 ballot that will end the practice, begun in the 1970s, of allowing large commercial and industrial landowners to keep their property taxes artificially low by deflating the value of their land.
