During a recent council meeting, officials addressed concerns regarding the impact of property sales in Berkeley amid rising single-family home prices. The discussions highlighted the need to balance municipal revenue generation with housing affordability.

Council members noted the importance of the Measure P tax, a progressive property transfer tax implemented in 2018, which increased the tax rate by 1% for properties over $1.5 million. This measure has generated approximately $56 million over six years, funding over 30 programs aimed at reducing homelessness in the city. Notably, Berkeley has seen a 45% reduction in unsheltered homelessness since the last count, a significant achievement compared to neighboring areas where rates have increased.

The council emphasized the necessity of continuing these efforts, especially as the Measure P tax approaches its expiration. With potential decreases in state and federal funding for homelessness, local leaders stressed the urgency of increasing resources to combat the ongoing humanitarian crisis. They underscored that addressing homelessness not only benefits those affected but also enhances the overall health and safety of the community, ultimately supporting local businesses and residents alike.