Here is the notice from the LWV Berkeley, Albany, Emeryville:
The League of Women Voters of Berkeley, Albany and Emeryville urges citizens to support Ballot Measures U & V; please vote YES on both when you cast your ballot.
Measure U will enable Emeryville to become a charter city for the limited purpose of being able to create and collect a property transfer tax, thus gaining more control over the income of the City. Measure V would create the local property transfer tax itself. The rate would be $12 for each $1,000 of sale value.
The income from the new property transfer tax would begin to replace the funding lost to the City when the State dissolved all redevelopment programs. Emeryville lost $30 million, half of its annual budget.
Since the income will depend on the number and value of property sales in future years, the income cannot be predicted. In 2013 Emeryville collected $130,000 in property transfer tax revenue. If a local transfer tax had been in force at the $12/$1,000 rate, the City would have received $2.85 million. Eighty-five percent of this would have come from sales of commercial properties. The proposed Emeryville rate is lower than the $15/$1,000 rate charged by neighboring cities Berkeley and Oakland.
The tax would be spent in the City where your homes and buildings are located. It would help keep City services running well, maintain parks and much more—thus maintaining and enhancing the value of the individual properties that are bought and sold.
For more information on these taxes, you can download a copy of our Pros & Cons on the Emeryville measures here(http://league.wpengine.netdna-cdn.com/wp-content/uploads/2014/09/Emeryville-2014-Ballot-Measures.pdf). You can read the measures themselves and more about these measures at www.SmartVoter.org. You can download copies of all League Pros and Cons on local and state ballot measures from our website at www.lwvbae.org.
Please make sure you are registered before Oct. 20 and vote in the November 4, 2014 election. You can register on line athttp://registertovote.ca.gov/
We urge you to vote Yes on Emeryville’s ballot measures U & V.