Week 3 Question

Do you support Measure GG? Why? If this measure passes, how would you prioritize the funds generated by the measure?

Nancy Beninati
(NancyforPiedmont.com)

I support Measure GG, which would increase Piedmont’s real estate transfer tax by 0.45 percentage points, from 1.3% to 1.75%. The tax is paid only when a property is transferred, not annually. As a licensed California Real Estate Broker, I am familiar with real estate transactions and transfer taxes. I have also spoken with Piedmont real estate agents about the potential impact of the increase and am not aware of significant concerns about its effect on the local market.

If approved, the city estimates that Measure GG would generate approximately $1.5 million annually for the General Fund. Because Piedmont has fewer commercial and sales tax revenues than many other jurisdictions, this additional revenue would provide greater stability and help the city continue providing the high level of services our community values.

I would not commit in advance to how Measure GG funds should be allocated. Their use should be considered as part of the city’s overall budget and long-term financial planning, informed by the city’s needs, financial projections, and community input. As a Councilmember, I would listen to residents and work with city staff and my Council colleagues to make thoughtful, fiscally responsible decisions about the best use of city resources.