Property Tax Will Be On 2020 San Jose Ballot After Council Vote

SAN JOSE, CA — The San Jose City Council on Tuesday voted to place a property tax measure on the March 2020 ballot.

The measure will ask voters to decide whether to tax property transfers on homes valued over $2 million in order to pay for affordable housing and shelters for homeless residents.

According to a draft of the measure, seniors, veterans, people with disabilities and low-income families would be the beneficiaries of the affordable housing. Tax proceeds would also provide shelters and permanent housing for homeless residents, the draft says.

The measure is expected to generate about $70 million in revenue each year. All the revenue would stay in the city.

—Bay City News Service