Update: On March 3, residents of San Jose made their priorities known by voting yes on Measure E to generate up to $50 million over 20 years to fund more affordable homes in the city.
Greenbelt Alliance has a long history of supporting measures that promote affordable homes. When residents can no longer live close to their jobs, they tend to move to the outer regions of our communities, placing sprawl pressure on our natural and working lands. Cities can effectively eliminate the need for development in our open space areas by maximizing land-use efficiency—producing and maintaining its affordable housing supply in the current built environment.
As a transfer tax, Measure E is a feasible funding tool as it applies only to the sale of properties worth more than $2 million—owned by less than two percent of all property owners. With the measure passing, San Jose will still have the lowest transfer tax among major Bay Area cities.
Benefits of Measure E
- Measure E will provide affordable homes for seniors, veterans, people who are disabled, and low-income families.
- Measure E will help homeless residents move into shelters and/or permanent homes.
- Measure E will provide more housing options near jobs and transit, reducing our greenhouse gas emissions.
We are thrilled that Measure E has passed, making San Jose a more inclusive city for all residents across the income spectrum.
Photo: Courtesy Yes on Measure E Campaign