Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Tax Policy topic
No spam. Unsubscribe anytime.
Portola Valley Council Sends Charter and $10‑per‑$1,000 Transfer Tax to November Ballot
Summary
Council voted unanimously to place a two-part measure on the Nov. 3, 2026 ballot asking voters to adopt a town charter (to enable a local revenue source) and to authorize a $10-per‑$1,000 real property transfer tax; staff estimates the tax would generate about $2 million annually based on past sales.
The Portola Valley Town Council voted to place a measure on the Nov. 3, 2026 ballot asking voters both to adopt a town charter and to authorize a real property transfer tax of $10 per $1,000. Town Manager Darcy Smith said the proposed charter would preserve the town’s governance structure while granting the local revenue authority needed to address a structural budget gap.
“Do they want to adopt a charter for the town in Portola Valley solely for establishing a real property transfer tax of $10 per $1,000,” Darcy said to summarize the staff recommendation. Darcy added staff analysis shows the rate would generate approximately $2,000,000 based on average home sales over the past 15 years. Council members discussed retaining current exemptions that mirror state law and endorsed using the finance and audit committee to provide oversight and to help develop a spending policy should the measure pass.
