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Title:
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Hearing to consider the proposed Initiative Ordinance submitted by four or more Supervisors to the voters for the November 3, 2020, Election, entitled “Ordinance amending the Business and Tax Regulations Code to increase the Real Property Transfer Tax rate from 2.75% to 5.5% on transfers of properties with a consideration or value of at least $10,000,000 and less than $25,000,000 and from 3% to 6% on transfers of properties with a consideration or value of at least $25,000,000; and to increase the City’s appropriations limit by the amount of the tax increase for four years from November 3, 2020.”
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