More Taxes: The City of Santa Monica wants to increase the documentary transfer tax to an average of $10,000 per sale. The City wants to triple the tax from $3 to $9 per $1,000 of the sale price. The average price of residential real estate, including condos, in Santa Monica is over $1 million (click HERE for Santa Monica sales data) Measures H and HH will increase our taxes!
More Out-of-Towners: The harsh reality is that 90% of the applicants for affordable housing don’t even live or work in Santa Monica. The City will probably build new apartments with our tax dollars for people who have no connection to Santa Monica.
More Traffic: Santa Monica is already gridlocked! If Measures H and HH pass, the City will construct apartment buildings with hundreds of units like the Hines project. It will increase population density and make traffic worse. Santa Monica is too congested already. Instead of focusing on reducing traffic, the City is focusing on creating more density downtown, which will actually cause more traffic, more gridlock and more frustration. Measure H and HH will bring more traffic.
More Construction: Measures H and HH are really about construction. The last thing Santa Monica needs is more apartment buildings with hundreds of units. The City Council approved the Hines project but in the end, Santa Monica residents forced the council to rethink allowing more buildings. Measures H and HH will bring more construction.
Less Accountability: The dirty secret of Measures H and HH is that all of the revenues collected are deposited in the City’s General Fund. The City does not have to spend a penny on affordable housing. Don’t take our word for it, read the official Santa Monica City Attorney’s impartial analysis of Measures H and HH:
“…the City Council will not be 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...”
– Santa Monica City Attorney’s impartial analysis of Measure H and HH