Measure C passed with just 54% support, leaving nearly half of Santa Cruz residents not wanting it. Some of those naysayers are concerned about loopholes, transparency and who will actually benefit from the new taxes, writes Keven Cook, an electrical engineer and veteran of political campaigns.
Keven Cook
Posted inOpinion from Community Voices
I’m voting no on Santa Cruz’s Measure C because of its three transfer tax loopholes
Keven Cook urges a “no” vote on the city of Santa Cruz’s Measure C, arguing it’s riddled with three major transfer tax loopholes that benefit investors and developers. He says the measure’s $1.8 million lower threshold, $200,000 cap and condo conversion exemption allow high-value and repeat property sales to largely escape taxation. Cook contends Measure C’s flaws undermine its laudable housing goals and should be rewritten without loopholes before voters approve it.