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68℉Measure E - Real Property Transfer Tax
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Measure E was placed on the ballot by City Council in 2019 and approved by voters on March 3, 2020. It enacted a Real Property Transfer Tax, which is imposed on property transfers of $2 million or more.
Revenues generated by Measure E provide funding for general City services, including affordable housing for seniors, veterans, disabled, and low-income families; and helping families who are homeless move in to shelters or permanent housing.
Passage of Measure E required the establishment of a Community Oversight Committee. The Housing and Community Development Commission (HCDC) was appointed as the oversight committee for Measure E spending.
The City Council adopted an allocation plan for Measure E, which allocated up to 5% off the top of total revenues to support administrative activities. The remaining revenues from Measure E are allocated as described below.
| Spending Priority | Percent of Transfer Tax |
|---|---|
| Creation of New Affordable Housing for Extremely Low-Income Households | 40% |
| Creation of New Affordable Housing for Low-Income Households | 30% |
| Creation of New Affordable Housing for Moderate-Income Households | 5% |
| Homeless prevention, gender-based violence programs, legal services and rental assistance | 10% |
| Homeless Support Programs Including Shelter Construction and Operations | 15% |
| 2024-25 Measure E Adopted Revenue Budget | Allocation of Funds |
|---|---|
| Administration Fee (5%) | $2,500,000 |
| Creation of New Affordable Housing for Extremely Low-Income Households (12% of Remaining Funding) | $5,830,000 |
| Creation of New Affordable Housing for Low-Income Households (11% of Remaining Funding) | $5,170,000 |
| Creation of New Affordable Housing for Moderate-Income Households (2% of Remaining Funding) | $1,000,000 |
| Homelessness Prevention, Gender-based Violences Programs, Legal Services and Rental Assistance (10% of Remaining Funding) | $4,750,000 |
| Homeless Support Programs, Shelter Construction and Operations (65% of Remaining Funding) | $30,750,000 |
| Total: | $50,000,000 |
Annual reports
Summary of Past Actions on Measure E
- June 2024: Adopted FY 2024- 2025 Spending Plan
- May 2024: Proposed FY 2024-2025 Spending Plan
- June 2023: Adopted FY 2023-2024 Spending Plan
- May 2023: Proposed FY 2023-2024 Spending Plan
- May 2022: FY 2022-2023 Spending Plan
- April 2022: Modification to Spending Priorities
- December 2021: Nonprofit Refund Pilot Program
- June 2021: FY 2021-2022 Spending Plan
- October 29, 2020: FY 2020-2021 Spending Plan
- June 23, 2020: Adopted Resolution #79608, designating the City's Housing and Community Development Commission as the Real Property Transfer Tax Community Oversight Committee for Measure E and describing its responsibilities.
- June 5, 2020 - Managers Budget Addendum #19: Managers Budget Addendum #19 amended City Council Policy 1-18 adding Section 22 regarding Measure E
- Mayor's March 6, 2020 Budget Message
- March 3, 2020: San José voters approved the Transfer Tax with over 53% support, adding a new chapter 4.59 to the San José Municipal Code.
- December 10, 2019: Discussion of spending priorities; direction to establish oversight committee; prioritized spending on affordable housing and homeless shelter and housing.
- December 3, 2019: Adopted the Resolution to place a real property transfer tax measure on the March 3, 2020 ballot.