Voters narrowly defeated Proposition 15, the tax measure that aimed to eliminate decades-long protections for commercial properties.

While one measure, Prop. 15 failed, another ballot measure to change the tax system passed, marking a bittersweet election for everyone.

Proposition 15 would reclaim $12 billion annually that would go directly to neighborhood schools and vital community services.

The measure coming up on the Nov. 3 ballot is the closest anyone’s gotten to touching the “third rail” of California politics.

What’s more, this initiative would implement small business tax relief to those businesses which have been hardest hit.