S
t. Helena's proposed property tax measures are headed towards defeat in the early election results, which would leave the city facing a $7 million structural budget deficit.
The two ballot measures aim to raise around $4.8 million annually for the general fund by taxing property sales and transfers. Measure A1 seeks to enable St. Helena to become a charter city, allowing it to enact a real estate transfer tax. With 36% of potential votes counted, 48% are in favor of Measure A1.
Measure A2 directly enacts the tax, with 44% of voters supporting it at this stage. If either measure fails to secure a simple majority, the tax will not be implemented. The proposed tax would apply when properties change hands, taxing a percentage of the sales price: 1.5% for sales between $1 million and $5 million, and 3% for sales over $5 million. Exemptions include sales under $1 million and transfers by will or inheritance.
The city has been exploring ways to address its budget deficit in recent years.
realestate
St. Helena's Measure A Faces Initial Setbacks in Election Returns
Early Election Results Indicate Measure A Favors No Real Estate Tax Increase on St. Helena
Read More - realestate
realestate
Buyer found for Robin Williams' previous Seacliff residence
Seacliff home of Robin Williams sells after a year on the market
Read More - realestate
realestate
Potential for Development in Far North Side with Broadway Upzoning
Zoning proposal aims to transform Broadway on Chicago's Far North Side
Read More
realestate
Buyer found for Robin Williams' previous Seacliff residence
Seacliff home of Robin Williams sells after a year on the market