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Portola Valley council backs exploring a town charter to enable local real‑property transfer tax
Summary
Council directed staff to pursue a focused town charter and a voter measure to authorize a locally controlled real‑property transfer tax (RPTT), citing a projected structural deficit and a desire to preserve local control; staff recommended a brief, narrowly targeted charter and a public‑hearing schedule leading to a November ballot.
The Portola Valley Town Council voted to proceed with drafting a narrowly focused town charter and ballot language to authorize a locally controlled real‑property transfer tax, staff said at the April 22 meeting.
Town Manager Darcy Smith told the council the town faces a structural budget gap—staff estimated about $700,000 annually—and warned that reserves could fall below the new 20% minimum if revenue options are not pursued. Smith said a charter is required because general‑law towns lack authority to adopt a standalone local RPTT and the charter would let Portola Valley keep 100% of any new RPTT revenue…
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