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Santa Monica Measure(s) H/HH

All cities have a property sale document and transfer tax by California state law. The tax is collected on all sales of personal and commercial real estate. The amount is paid by the seller. In most California cities the base tax is .55/per $1000 of the sale price. In addition each county adds an additional fee. In Los Angeles that fee is also .55. Hence, the total base fee if you sell your business or home in Beverly Hills is $1.10 per $1000 of assessed value. The City Of Los Angeles and Culver City are presently tied for the highest rate in our county with a city transfer tax rate of $4.50 and a total rate of $5.60/$1000 of the sale price.

Santa Monica comes in 2nd place at $3.00 + $1.10 for a total of $4.10 per 1000 dollars of value. The proposed increase on the sales price would raise the tax to $9.00 per $1000 of the sale price over $1 million. The tax would remain as is on sales under $1 million. This amounts to an almost tripling of a tax. And, yet another example of a contest we should not want to be #1 in.

I'm opposed to any tax that any government would triple in one fell swoop. This is an unfair increase of tax receipts that may or may not be placed into an affordable housing fund. In essence, it's another tax to add more development.  Even though it's for low cost housing we have not thoroughly demonstrated a urgent reason for this outrageous tax increase. 

A reasonable increase would have been tolerable. Matching Los Angeles and Culver City's rate would have been acceptable if our city clearly showed the absolute need for the increase. This tax also has no expiration date. Even if a new form of redevelopment money is made available the this tax continues. Not only is it an unfair increase it's an increase that only affects one segment of our population that is a minority in our town.

To triple a tax, any tax, is wrong.

I urge a NO vote on Measure H and it's companion piece, Measure HH.

Paid for by Committee to Elect Phil Brock For City Council - id#1392146 - 1328 Twelfth Street Santa Monica, Ca 90401
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