pages: CityCouncil/2020-09-15.pdf, 6
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CityCouncil | 2020-09-15 | 6 | The Public Information Officer made brief comments. Councilmember Daysog stated that he does not support the split role tax approach; there is an argument that commercial and industrial were not meant to be part of Proposition 13 when it passed in 1978; small mom and pop businesses are affected; the School District stands to gain from the split role approach; Proposition 13 should remain in-tact as originally put together; there are other approaches to deal with funding. Vice Mayor Knox White noted that he and Councilmember Vella were set to bring the matter forth as Council Referral; stated there were loopholes left in Proposition 13, which have unintentionally removed billions of dollars from schools. Councilmember Vella stated Proposition 15 exempts all commercial property below $3 million in value and provides a tax cut on business equipment that will benefit small businesses; there is misinformation related to harm for small businesses; outlined Disneyland's tax payments; stated large scale commercial properties, which have considerable wealth and equity will not be exempt from Proposition 15; expressed support for closing loopholes. Councilmember Oddie stated times have changed since 1978; school districts used to be top 10 in the nation and now are ranked in the bottom 10 related to funding; there are many issues with funding, especially due to COVID-19; $7 million would be good for the City and unfunded obligations; funding will help transit authorities stay afloat; the matter is overdue. Councilmember Daysog stated small businesses will still be subject to taxes; many small businesses are tenants of larger properties; the matter will negatively impact small businesses; Council must be cognizant of the impacts especially in the current environment. Councilmember Vella noted the tax is for commercial properties valued at $3 million or over; stated relatively few specific business will pay the tax; 92% of the revenue generated will come from 10% of the properties in the State. Councilmember moved approval of the staff recommendation and adoption of the resolution. Councilmember Oddie seconded the motion. Under discussion, the Public Information Officer stated a large portion of the revenue is generated from a small portion of commercial properties; properties are generally reassessed when sold; the assessed value is less than the market value for commercial properties; commercial properties are sold every 30 years on average; residential properties are generally sold every six years which can cause disparities. Regular Meeting Alameda City Council 3 September 15, 2020 | CityCouncil/2020-09-15.pdf |