As a resident of Piedmont for almost 30 years, and having served as the City’s Finance Director for over seven years, I am very familiar with the City’s finances.
I support Measure GG which raises the Real Estate Transfer Tax from 1.3% to 1.75%.
Unlike other cities, Piedmont has few ways to generate revenue to support city services. The Transfer Tax is the least intrusive of the City’s revenue sources as it is only levied when a Real Estate Sale takes place.
Measure GG will increase revenue by approximately $1.5 million. I feel the increase in the tax is necessary to keep pace with rising costs that have affected all aspects of the City’s operations -from public safety to maintenance of parks and streets.
Lastly, the 1.75% rate is more in line with our neighboring cities, Oakland and Berkeley, which have rates as high as 2.5%.