Letter to the Editor

We can see that traditional Santa Monica property taxes, that fund almost everything the city does for us, will collapse as a result of this transfer tax. This will wreck city services that current residents depend on (Schools, police, fire, libraries etc) 

This property tax collapse will be caused by owners delaying home sales and thus delaying property tax basis repricing, and replacing tax paying buildings with (non property tax paying) affordable housing. 

Read More: https://www.smdp.com/letter-to-the-editor-38/217772