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Why Measure V is BAD

for El Cerrito

 

The East Bay Times analysis of Measure V (or the "Real Estate Property Transfer Tax"--RPTT) provides a clear and crisp analysis of the Measure and says: "In a move that would make housing in the region even less affordable, officials in six East Bay cities are trying to siphon off tens of millions of dollars of property owners’ equity to balance their budgets."

If you bought a home or changed the title (i.e. from an individual or couple to a living Trust) on your property in El Cerrito over a 4+ year stretch ending in 2003, you already "paid" the RPTT. El Cerrito was in violation of California law with this tax and begrudgingly repealed this tax after the City of El Cerrito was successfully sued by residents for this illegal tax. Now, the City wants it back.  And it is charging one of the highest rates in the State of California.

If your home is valued at $900,000 (the average sales price in El Cerrito this summer), the owner/buyer would owe the City $9,000, plus an additional RPTT to the County, and property taxes and assessments totally over $16,000 annually. Remember, we already pay more than 20 (yes, 20+) property assessments and the second highest sales tax in the state. Yet the City wants more!

El Cerrito residents have been VERY GENEROUS with agreeing to pay assessments, high sales taxes, and so forth. But now, it will say ANYTHING to get this ballot measure passed! How do we know? The City did a web based survey, paid by taxpayers, to determine the messaging that would most likely result in a positive vote. And, guess what, the messages it is using has NO relationship to the issues stated by the City Manager when he asked for approval from the City Council to take this Measure forward for a vote.

What did the City Manager and one City Council member say these funds would be used for:

  • Pensions;
  • Paying down debt;
  • Increasing the City "reserves"; and
  • Capital projects

NOTHING in this list is about police and fire response times. And to be clear, if this Measure were about funding Police and Fire, we would support it.

This measure is about raising a pool of money the City can do what ever it wants with these funds. The Citizen's Oversight committee, it promises will watch over how funds are spent, has ZERO control of when, where, and how these funds are used. More untruths!

This is a campaign of misrepresentations and the East Bay Times is NOT FOOLED and calls out the facts!

If Measure V passes, not only will the seller/buyer pay the El Cerrito RPTT, they will also have to pay the Contra Costa County's RPTT, which the El Cerrito Ballot Measure does NOT mention. And pay escalating property taxes annually as many of our assessments are based on the County's assessment of our annual property tax--not a flat rate...

GET informed. GET the facts. TOO dangerous for El Cerrito.

Don't fall for ANOTHER
City of El Cerrito DECEPTIVE campaign ...

Vote NO on Measure V


Vote No on El Cerrito's Measure V. 
Campaign ID Number Pending.
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