Submit ballot measure to change real estate transfer tax with tiered rates
In Plain English
The city currently charges a flat tax when properties are sold. This ballot measure would create different tax rates based on property value, with higher rates for expensive properties. If approved by voters in November, the city collects more revenue from luxury home sales while keeping rates lower for modest properties.
Auto-generated summary. Source: official agenda documents.
Votes
Adopt Resolution No. 71-18
7 to 0
Community Discussion
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Similar Discussions
5 related items found by meaning
Call special election on increasing real estate transfer tax
Place measure on November ballot to raise transfer tax on luxury homes
Create ballot initiative to raise property transfer taxes on sales above $400,000
Consider drafting 2 rental tax measures for November ballot
Direct city manager to draft 2 rental tax measures for November ballot
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