Pass: 12,179 / 50.53% Yes votes ...... 11,923 / 49.47% No votes

See Also: Index of all Measures

Impartial Analysis from City Attorney

ADVISORY MEASURE ON USE OF REVENUES FROM REAL ESTATE TRANSFER TAX

This is an advisory measure placed on the ballot by the City Council. It relates to, but is separate from, the Real Estate Transfer Tax Measure that is on the same ballot. That measure would increase the real estate transfer tax charged and received by the City of Santa Monica from $3.00 per $1,000 of sale price to $9.00 per $1,000 for properties sold for $1,000,000 or more. A separate impartial analysis has been prepared for that measure.

This measure allows voters to provide advice on how the tax revenues should be used if the proposed tax increase is approved. Specifically, this measure asks whether the revenue should be used to preserve, repair, renovate and construct affordable housing for low-income people who work or live in Santa Monica, including seniors, veterans, working families and persons with disabilities.

Because this measure is advisory, its passage would not legally require the City to expend the revenues as described in the measure. Instead, the measure would supply information about whether the voters prefer that the revenues be spent in the manner described.