City of Santa Monica Real Estate Transfer Tax, Measure H (November 2014)

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A City of Santa Monica Real Estate Transfer Tax, Measure H ballot question was on the November 4, 2014 election ballot for voters in the city of Santa Monica in Los Angeles County, California. It was defeated.

If approved, Measure H would have amended the real estate transfer tax so that for real estate sold for one million dollars or more, the tax rate would have been nine dollars per each thousand dollars of the sales price.

Election results

Santa Monica City Measure H
Result		Votes	Percentage
d No		14,020	57.50%
Yes		10,364	42.50%

Election results via: Los Angeles County Elections Office

Text of measure

Ballot question

The question on the ballot:

“

Shall an ordinance be adopted that amends the real estate transfer tax so that for commercial and non-commercial real estate sold for one million dollars or more, the tax rate would be $9 for each thousand dollars of sales price?

”

Impartial analysis

The following impartial analysis was prepared for Measure H:

“	BALLOT MEASURE AMENDING THE MUNICIPAL CODE TO SET THE REAL PROPERTY TRANSFER TAX RATE AT NINE DOLLARS PER THOUSAND DOLLARS OF SALE PRICE FOR ALL SALES OF ONE MILLION DOLLARS OR MORE This measure, placed on the ballot by the City Council, proposes to raise local City of Santa Monica revenues by increasing the real estate transfer tax charged and received by the City of Santa Monica. The current tax rate is $3.00 per $1,000 of sale price, with fractional parts of $1,000 rounded upward for purposes of calculating the tax. Under the measure, the new tax would be $9.00 per $1,000 of sale price (or fractional part of $1,000) for properties sold for $1,000,000 or more. Transfers for less than $1,000,000 would continue to be taxed by the City at the existing rate of $3.00 per $1,000 of sale price. All California counties, including Los Angeles County, also collect a real estate transfer tax. The amount of that tax is $1.10 per $1,000 of sale price. So, if the proposed measure is approved by the voters, a sale of real property in Santa Monica for $1,000,000 would be taxed by the City in the amount of $9,000 and by the County in the amount of $1,100. The City Council approved the proposed transfer tax by more than a two-thirds majority vote. But, the proposed tax can only go into effect if it is also approved by a majority of voters at the November 4, 2014 election. If it is approved then, the proposed tax will go into effect on January 1, 2015. This measure is accompanied on the ballot by a non-binding advisory measure. It asks voters if the City should use the transfer tax revenue to preserve, repair, renovate and construct affordable housing for low-income people who work or live in Santa Monica, including seniors, veterans, working families and persons with disabilities. If the transfer tax measure is passed, the outcome of the vote on the advisory question may guide the City Council in deciding how to use the transfer tax revenue. However, the City Council will not be legally bound by the outcome of the vote on the advisory measure. The City Council could decide to use the transfer tax revenue for any lawful City purpose that best serves the City's needs.	”
—Santa Monica City Attorney

Related measures

a City of Santa Monica Real Estate Transfer Tax Advisory Question, Measure HH (November 2014)

See also

• City tax on the ballot
• Los Angeles County, California ballot measures
• November 4, 2014 ballot measures in California

External links

Suggest a link

• Los Angeles County Clerk and Recorder website