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Measure W Pomona Real Property Transfer Tax Increase City of Pomona Ordinance - Majority Approval Required
See Also:
Index of all Measures |
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League of Women Voters of California Education Fund
Fail:
7,529 /
25.19% Yes votes ......
22,361 /
74.81% No votes
| Results as of Dec 2 2:20pm, 100.00% of Precincts Reporting (56/56) |
| Information shown below: Impartial Analysis | Arguments | | ||||
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To ensure funding for essential general city services including police services, fire protection, street and park maintenance, business development, and park and recreation services, shall an ordinance be adopted to increase the tax charged when real property in the city is sold or transferred, otherwise known as the Real Property Tax, from $1.10 per $500 of property value at the time of sale $2.20?
Currently, the City of Pomona imposes a Real Property Transfer Tax (RPTT) in the amount of $1.10 per $500.00 of property value at the time of sale. The tax is imposed on "each deed, instrument or writing by which any lands, tenements, or other realty sold within the city" are "granted, assigned, transferred or otherwise conveyed to or vested in the purchaser." (Pomona City Code § 50-251). The tax is only imposed on transfers of real property within the City limits of Pomona at the time of sale of such property. The RPTT was established by the City in 1967, and the current rate of $1.10 has remained unchanged for the last 21 years (since 1991). Although state law limits the amount of a real property transfer tax for general law cities, since the City of Pomona is a charter city, City voters may approve additional real property transfer taxes beyond the rate set by state law. If adopted, Measure "W" will amend section 50-251 of the Pomona City Code to increase the RPTT rate to $2.20 per $500.00 of property value at the time of sale. If adopted by the voters, it is estimated that the increase will result in an additional $1,000,000.00 in general funds annually, although the actual results may vary depending on the health of the economy. All additional revenue received from the RPTT will be deposited into the City's general fund, to be expended on general fund purposes, such as police services, fire protection, street maintenance, business development and park and recreation services. If adopted, the RPTT rate of $2.20 would take effect upon the earliest date legally possible after the City Clerk certifies the votes. A "Yes" vote on Measure "W" supports the increase in the RPTT rate from $1.10 to $2.20 per $500.00 of property value at time of sale. A "No" vote on Measure "W" will maintain the current RPTT rate.
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| Arguments For Measure W |
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Dear Pomona residents,
As sales and property taxes have dropped, so has the City's revenue. The present economic situation has forced the City of Pomona to take drastic measures to ensure the most basic services for its residents. Personnel in all departments along with services have been reduced. Some services have been outsourced. Many of our employees are carrying double loads. Part of our efforts to maintain and enhance the services you need and deserve, include looking for sources of revenue that have a minimum or no impact on Pomona's residents. That is why we are asking you to approve Measure W. Approval of this measure will only affect those individuals who are transferring ownership or selling their properties located in Pomona. With your approval, the additional revenue will help to alleviate Pomona's financial stress, and improve your City services. Pomona needs your help! Each one of us can help our City with our vote. Please vote Yes on Measure W!
CRISTINA CARRIZOSA
DANIELLE SOTO
PAULA LANTZ
GINNA E. ESCOBAR
(No arguments against Measure W were submitted) |
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Created: December 17, 2012 13:44 PST
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