DATE: December 18, 2018
TO: Mayor and City Council
FROM: City Manager
City Attorney
SUBJECT
Title
Adoption of a Resolution Delaying Imposition of Measure T - Real Property Transfer Tax Increase to January 1, 2019
End
RECOMMENDATION
Recommendation
That the City Council adopts the attached Resolution (Attachment II) directing the City Manager to delay imposition of Measure T - Real Property Transfer Tax increase to January 1, 2019.
SUMMARY
Measure T, an ordinance increasing the City’s Real Property Transfer Tax, was approved by the voters during the November 6, 2018 General Municipal Election and becomes effective ten calendar days from the date the City Council declares the results of the election. This item recommends that the City Council adopts a resolution directing the City Manager to delay imposition of the new tax rate until January 1, 2019.
ATTACHMENTS
Attachment I Staff Report
Attachment II Resolution