During a meeting with Alameda County Democrats Wednesday night in which Hayward Councilmember Elisa Marquez lobbied support of Measure T, the city’s proposed real property transfer tax increase estimated to bring in $6-8 million in new annual revenues, she sounded the alarm on the city’s dire financial outlook.
“We are at a breaking point. If we do not find more revenue, services are going to be impacted to the entire community,” said Marquez.
Years of stagnant revenues in Hayward in tandem with rising employee costs have been a drain of the city’s general fund reserve. During the most recent budget season earlier this year it was estimated the city’s reserves could be depleted in four years.
“The reason why we are putting this on the ballot is that we have structural deficit,” Marquez added. “Something that is beyond our reach and our control in the city of Hayward.”
Pension costs, in addition, to a lower discount rate, and rising salaries and benefits are hampering the city’s budget, even though its labor groups are bearing more of the costs of their benefits.
Measure T would almost double Hayward’s existing real property transfer tax from $4.50 per $1,000 of property value on residential and commercial buildings to $8.50. The tax is paid only paid by either the buyer, purchaser, or a combination of both upon sale of property in Hayward.
Exemptions from the tax are allowed for properties that are gifted, donated or inherited.
Despite the proposed increase, Hayward’s real property transfer tax would still be the second-lowest in Alameda County. Only San Leandro’s $6 per $1,000 of property value would be lower. Meanwhile, a similar tax is assessed at $15 in Oakland and Berkeley, $13 in Piedmont, and $12 in Alameda and Emeryville.
Its probably too late for me. But I will not vote for this idea. Let Hayward sink! Who needs any more stupid city laws? Does the law about fencing empty lots really help? The loop cuts off half of the businesses there depending on your direction. Down with the maze freeway!
They are stealing our equity. They keep adding more on our property taxes. Now they want our equity for their over spending budget. Vote them out. We are at our breaking point. Poop on our streets. More Homeless. Crime. Sidewalks not fixed and they want more money for the union workers wages and pensions. These city workers make more than most of the residents in Hayward.
Hayward councilmember’s plea for tax measure: ‘We are at the breaking point’ How dumb is this? They over spend and want us to bail them out.
These council members voted to over spend. We are being taxes to death because of their incompetency. Drain the swamp!!! Impeachment would be better. You can see why the former city manager was pushing for pot dispensaries. When the people are stoned, fluoridated, and drinking lead in their drinking water, the council has lowered the public’s IQs. We need to replace this council with new people and people who can count.
The public needs to demand, petition and put on the ballot to stop fluoridating the water. Read “Chloramine Causes Collateral Health Damage,” by Dr. Winn Parker. We need to clean up our water so we don’t get cancer and become more stupid from toxic water chemicals, medicines, lead poisoning, and algae bloom.
Only evil, anti-American, incompetent politicians put tax increases on the ballot… manage the massive tax revenue you already have. Hayward has a tax revenue stream that rival most third world counties and still can’t be managed effectively. Greed + incompetence =Hayward politicians.
Who wrote this?
“The tax is paid only paid by either the buyer, purchaser, or a combination of both upon sale of property in Hayward.”
You guys need a proofreader?
HUSD also has a measure on the ballot asking for an increase in property taxes.
This kind of piecemeal tax increments is not the solution to Hayward’s financial problems. The entire budget needs to be restructured.
Hopefully the voters of Hayward will vote No on Measure T and vote out of office the tax and spend incumbents responsible for letting this happen.