As a homeowner, will I have to pay the Measure V tax every year?

No. Measure V asks voters to approve a Real Property Transfer Tax (RPTT). The RPTT is a one-time tax paid when property is sold or otherwise transferred in return for a payment to the owner. It’s not an ongoing, annual tax. If you own a home and don’t sell it, you won’t pay the tax. If you sell your home, Measure V allows you and the buyer to decide who should pay the tax. Measure V also rebates a portion of the tax to the seller or the buyer for making seismic upgrades or improvements that save water and electricity.

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1. What is a charter city?
2. Why is El Cerrito considering becoming a charter city?
3. How will El Cerrito become a charter city?
4. When will residents vote on this measure?
5. What is a Real Property Transfer Tax or RPPT?
6. Are there other charter cities in the Bay Area?
7. As a homeowner, will I have to pay the Measure V tax every year?
8. Will I have to pay the Real Property Transfer Tax if I gift my home to a family member, place it in a Family Trust, or leave it to my children as inheritance?
9. What can the revenue be used for? Why is it not guaranteed for specific services or improvements?
10. Will we get any additional or increased services if Measure V passes?
11. Will the Real Property Transfer Tax directly impact property values?
12. Will the Real Property Transfer Tax negatively impact the proceeds from a sale of a home in El Cerrito?
13. Will being a Charter City increase the chances the City will go bankrupt?
14. Will Measure V cause rents to increase?
15. Will sales of commercial property also be subject to the tax?
16. Why did the City place Measure V on the ballot? Is it really about the Real Property Transfer Tax?