When it comes to assessing homes or businesses, there is not a Democratic or Republican way.

County assessors fairly and equitably administer California’s complex property tax laws and regulations. We try to ignore the political consequences of our actions. Sometimes our assessments result in property tax increases. Other times, we lower property taxes to reflect declining real estate values.

Santa Clara County Assessor Larry Stone Patrick Tehan/ file photo

As residents and taxpayers, we care about adequate funding for schools and local governments, as well as the adverse impacts higher taxes can have on businesses and residents. As property tax administrators, our duties require us to objectively oversee a complex system that involves tracking every parcel in our counties and ultimately leads to a property tax bill.

However, when an initiative threatens the stability of our entire property tax system, we are compelled to speak out. We have joined the California Assessors’ Association in opposing the split-roll initiative on the Nov. 3 statewide ballot, commonly referred to as the Schools and Communities First Initiative.

If approved by voters, the proposition “splits” the property tax roll, requiring that businesses, farm production and residential properties be assessed differently. As a Democrat and Republican, we do not always agree on politics, but we strongly agree that this ballot initiative, as written, simply cannot be implemented by Jan. 1, 2022.

Today, property taxes for both residential and business properties are calculated based on 1% of the property value at acquisition. Annual property tax increases are capped at 2%, even when property values rise more.

Under the initiative, assessors would be required to reassess commercial and industrial properties to market value at least every three years. The proponents project assessors would add $1.2 trillion in new assessed value virtually overnight.

There is no light switch to make that happen. It is simply not possible.

Collectively, the two of us have more than 30 years’ experience serving as county assessors for Santa Clara and San Bernardino counties. We represent politically diverse communities in different parts of the state. We have joined other assessors in concluding that the split-roll initiative, as written, would not be just challenging to implement, it would be impossible.

If initiative proponents seek to generate tax revenue to immediately “plug” local government budget shortfalls due to COVID-19, this measure would not do it. Nor should schools count on new revenue in 2022 for their budgets.

The proposition would not generate a net increase in revenue for many years, if at all, not months as promised. Meanwhile, it would create administrative chaos for property tax administrators.

An independent and impartial analysis prepared for the California Assessors’ Association concluded the implementation cost would reach $1 billion during the first three years, with no guarantee it would generate a fraction of the promised $12.5 billion in annual new property tax revenue, or that the state Legislature would approve the millions of dollars needed to recruit and train hundreds of new senior appraisers. For decades, the state government has failed to pay its fair share to fund property tax administration in California. Assessors have no confidence they would now.

The requirement to reassess commercial properties to market value every three years would cause an estimated 12-fold increase in reassessments annually, dramatically impacting assessors’ ability to provide essential services to all taxpayers, including residential homeowners.

An independent, non-partisan analysis prepared for the San Bernardino Assessor-Recorder’s office projects the assessor would need to double its current budget by 2023. The report does not include additional staffing needed for the reassessment of farms, including dairy, barn, production facilities or wineries.

A similar analysis for Santa Clara County found that the additional cost for the county finance agency, county legal counsel and the assessment appeals board could increase by 36 percent.

In November, we hope voters seriously consider the costs and administrative challenges of the split-roll ballot measure and join us in voting no.

Larry Stone is the Santa Clara County assessor and is a registered Democrat. Bob Dutton is the San Bernardino County assessor-recorder-county clerk and is a registered Republican.