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54 of 55 · Local · Yes/No
Local · Yes/No
Proposition I — Changes to Real Property Transfer Tax
Dedicates half of transfer-tax revenue from specified property transfers in the $10 million-and-up brackets to affordable housing and housing assistance, without increasing current combined rates. Adds an exemption for certain newly built multifamily property sales.
A yes vote means
Create the dedicated housing tax and fund, replacing half of the current general-purpose tax in those brackets, with specified spending requirements and limits on future tax changes.
A no vote means
Keep current transfer-tax rules and allow the City to continue spending that revenue for general governmental purposes.
Requires a simple majority of votes cast on the measure to pass.
Arguments & rebuttals
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