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Measure N framed as 10-year one-time stabilization; staff plans glide path to reduce reliance
Summary
Staff told the council Measure N, the 1% transactions-and-use tax approved Nov. 5, 2024, will be used as a time-limited stabilization source; staff projects $14.8 million for FY26 in the most recent estimate and plans to reduce reliance over the 10-year term.
City staff told the council that Measure N, the 1% transactions-and-use tax voters approved Nov. 5, 2024, will provide a limited, 10-year source of one-time funds that the city plans to use to stabilize operations while it pursues ongoing revenue and expenditure solutions.
“Measure N effectively provides a 1 time source of funds with which to balance our budget over the next 10 years,” Jennifer Wakeman, finance staff member, told the council during the workshop. Wakeman said the tax became effective April 1, 2025 and raised the local sales tax rate to 9.75%.
Revenue forecast changes and reporting cadence Wakeman said…
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