The Palo Alto city council approves a significant Commercial Linkage Fee increase and is considering a square footage tax!
The pandemic and the slowdown in the economy has not slowed down cities from trying to increase taxes and in particular taxing property owners. The City of Palo Alto is revisiting tax increases.
President Joe Biden has unveiled two momentous plans that are part of his “Build Back Better” agenda. Costs to fund the American Jobs Plan and the American Families Plan could result in consequential tax changes and have a tremendous impact on CRE.
Santa Clara’s 15-year legal battle with the City of San Jose, that has held up development of up to 24,000 housing units in North San Jose, could end because of the newly elected councilmembers from both cities.
The Chapter partnered with the Santa Clara County Assessor’s Office to hold a virtual Property Tax Workshop on January 21st for owners of commercial property to discuss Prop 8 and potential adjustment to market values.
California’s $500 million small business relief grant applications were released on December 30 and are set to close on January 13th at 11:59 PM. The California Small Business Relief Grant will provide $5,000 to $25,000 grants to eligible small businesses that have been affected by COVID-19.