No on Prop 15 co-chair and California Business Roundtable President Rob Lapsley applauded the efforts of the self storage sector in defeating California's Proposition 15. Prop 15 would have resulted in dramatically higher property taxes for commercial properties. Self storage accounted for more than $3.5 million of the $75 million opposition fund.
"Prop 15 was defeated as a direct result of the outstanding support of the self storage industry," said Lapsley in a note to SSA leadership. "The Self Storage Association was one of the earliest leaders to oppose split roll. Your efforts reflect true leadership to protect all Californians from the largest tax increase in state history. We could not have been successful without your help."
With more than 90% of votes counted, the "no" votes on Prop 15 lead by approximately 570,000 or 3.6%. The Associated Press has declared the ballot measure defeated.