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San Mateo finance director warns of multi‑year shortfalls; VLF backfill and transfer‑tax threats could deepen deficit
Summary
Finance Director Abby Viser presented a FY2026–27 general fund preview showing a projected structural shortfall and four scenarios that illustrate risks from Vehicle License Fee (VLF) backfill uncertainty and a proposed state measure to eliminate local real property transfer tax.
City Finance Director Abby Viser presented the FY2026–27 general fund operating preview on April 20, outlining conservative revenue estimates, expenditure assumptions, and multi‑year forecasts that illustrate a possible structural shortfall under several plausible scenarios.
Viser told the council that the general fund is heavily dependent on tax revenues (about 79% of the revenue base), with three sources—property tax, real property transfer tax, and sales tax—making up roughly 90% of tax receipts. Given national and state economic uncertainty and…
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