Redwood City Business Tax Increase, Measure Y (November 2009)
Measure Y would have increased the current annual tax rate of $37 per business plus $24 per full-time employee to $43 per business plus $28 per full-time employee.
Under Measure Y, the business license tax would have increased the existing business tax by approximately 16% for three consecutive fiscal years beginning July 1, 2010. It was anticipated that the tax would raise approximately $650,000 of additional annual revenue for the city's general fund. This estimate assumed that no Redwood City businesses would re-locate to another city or go out of business as a result of the new higher tax.
Redwood City has had a business license tax since 1990. The last time the business tax was increased was in 1994. In 2008, the tax generated $1.3 million for Redwood City.
- These final, certified, results are from the San Mateo County elections office.
The question on the ballot:
|Measure Y: "Shall Ordinance No. 2346 be adopted to increase the rates of Redwood City's Business License Tax by 16.67% per year (rounded to the nearest whole dollar amount) for each of the three successive fiscal years commencing on July 1, 2010 and then, commencing on July 1, 2013 and annually thereafter, be increased based upon the annual change in the Consumer Price Index?"|