Piedmont Measure TT increases the “flat rate” property tax on sales of all Piedmont homes and properties. Measure TT officially states, “this measure is not a commitment to any particular action or purpose.”
The 35% tax increase will be levied as a percentage of the property sales price adding thousands of dollars to the cost of selling a property in Piedmont. With a low bar for passage (one vote plus 50%), if approved by a simple majority of Piedmont voters, TT will become effective on all property sales in Piedmont on July 1, 2021. Read official details below.
Proponents and Opponents use different terms to argue that TT would or would not establish the highest transfer taxes in California.
TT Proponents rely on the handful of California cities such as Oakland and Berkeley that have created “stepped” graduated transfer taxes based on the sales price range in their cities, and then compare the highest tax rates for the highest priced properties with Piedmont’s flat rate. Berkeley’s median house value is 1/2 of Piedmont’s and Oakland’s median house value is 1/3 of Piedmont’s, so their steps do not fit the Piedmont range. (See Alameda County median values here).
TT Opponents claim TT is the highest California “flat” transfer tax because more than 90% of California cities have flat rates under $2 per $1000 compared to Measure TT’s proposed flat rate of $17.50 per $1000 . (See California city Transfer Tax rates here .) Note: Alameda County adds an additional amount to the transfer tax.
——-
Proponents state the money will be used by the City of Piedmont for essential services, and the tax is comparable to some other cities. “The proposed tax increase will provide necessary funds for maintaining and improving city facilities, streets, sidewalks, and parks.” Proponents claim that opponents are wrong to state that Piedmont would have the highest Transfer Tax.
Opponents state Piedmont will have the highest “flat” Transfer Tax rate in California and will take away homeowner profits. “Voters must demand accountability measures before passing such a high homeowner tax.” Also, Piedmonters just approved a City parcel tax for municipal purposes, and Measure TT does not identify specific uses.
Click each item below to read official information on the measure, liens, bankruptcies, etc.:
- Full Text of Measure TT
- City Attorney’s Impartial Analysis of Measure TT*
- Direct Argument In Favor of Measure TT
- Direct Argument Opposed to Measure TT
- Rebuttal to Argument In Favor of Measure TT
- Rebuttal to Argument Opposed to Measure TT
*The “City Attorney’s Impartial Analysis of Measure TT” is provided by Piedmont’s contract City Attorney.