Prop. 15 would raise taxes on commercial buildings in California

It’s one of the hottest issues on the November ballot -- but it is often misunderstood. Proposition 15 promises the biggest change in property taxes in 40 years. The measure would raise up to $11.5 billion for schools and local governments, according to the nonpartisan Legislative Analyst’s Office . Prop. 15 would increase property taxes on commercial and industrial buildings worth more than $3 million by assessing them at how much they could be sold for now -- instead of the original purchase price. Get the full story in the video above.