pages: CityCouncil/2008-07-15.pdf, 11
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CityCouncil | 2008-07-15 | 11 | increasing the real property transaction tax to $10.00 would generate $3.5 million; all sales tax for the next fifteen years would not equal said amount. Mayor Johnson stated increased sales tax is not a viable solution to the problem; residents are contributing money to other cities. Councilmember Matarrese stated the real property transaction tax is a sales tax on house sales; people need to know that the proposed tax would go for public safety services the proposed tax has not been raised since 1993 and is due; employee medical cost benefits have risen by 600% since he was on Council a couple of years agoi the approved budget was a three month budget because that is when Fire Department overtime funds run out and brown-outs may occuri Alameda is comparable to the City of Vallejo; people were very generous on voting for Measure H; house values decline when services deteriorate. Mayor Johnson stated the proposed real property transaction tax amount needs to be discussed. Councilmember Gilmore moved adoption of resolution with an amendment to change the real property transfer tax rate to $12.00 per $1,000 of value; requested that a Plan B be established prior to the election in case the measure does not pass. Councilmember Matarrese seconded the motion. Under discussion, Councilmember deHaan stated that he would prefer a $10.00 tax rate; homes sold for approximately $120,000 in 1993; homes sell for approximately $600,000 today. Mayor Johnson stated that she would prefer no increase, but an amount needs to be determined to help the budget situation. Vice Mayor Tam stated that she supports the motion; that she cautions against lower amounts because some assumptions are built in regarding volume of home sales; depressed home sales would decrease revenue. Councilmember Matarrese stated Alameda Point activity needs to be factored in as well. Vice Mayor Tam inquired whether the motion needs to include direction regarding preparation of ballot arguments. The City Manager responded separate motions can be made; stated a Regular Meeting Alameda City Council 11 July 15, 2008 | CityCouncil/2008-07-15.pdf |