April 22, 2025 Breaking News, Latest News, and Videos

Santa Monica Mayor Proposes Measure That Would Increase Taxes on Expensive Real Estate Sales

Measure would apply to sales over $8 million

By Dolores Quintana

Santa Monica Mayor Sue Himmelrich has proposed a new tax on real estate sales of over $8 million at $53 dollars per $1,000 dollars of each property’s cost, as first reported by the Santa Monica Lookout.

The “Funding for Homelessness Prevention, Affordable Housing, and Schools” hopes to raise $50 million in the first year. 

The first ten million or the first 20% raised by the proposed tax would go to the schools in Santa Monica and the remaining 80% of the funds would go towards homelessness prevention and affordable housing in Santa Monica. If the tax makes more than the expected $50 million, the money would be deposited into funds set aside for schools or homelessness prevention and affordable housing at the same 80/20 percent rate. 

The measure states that “It is fair, equitable, and right” for those property owners who have benefitted and “enjoyed the benefits of City services and programs” would “leave a small portion of the proceeds with the City to help fund” programs that need the most help and are part of the future health of the city and all of its residents. 

Himmelrich and her husband Michael Soloff, who is a former Housing Commissioner, are working together to put this tax proposal into action and funding the campaign themselves because she believes that it would be more likely that the tax proposal would actually pass. 

As quoted by the Santa Monica Lookout, Himmelrich said this proposal is a “dedicated purpose” tax measure which only requires a majority vote among the voters in the city as opposed to the two thirds majority that would be needed if the proposal was put to a vote by the City Council.

However, a “dedicated purpose” tax measure is much more of an expensive proposition than putting it through the City Council. Himmelrich and Soloff expect that it will cost $200,000 to fund putting the measure on the ballot and other affiliated costs like the bill for hiring the law firm Strumwasser & Woocher to draft the proposal and $100,000 that will be spent on gathering signatures to get the measure on the ballot. This would require 6,800 valid signatures from Santa Monica residents, but the campaign is aiming for 10,000 signatures to make sure that the effort will succeed. 

The rest of the money earmarked for this campaign would be used for publicity to encourage voters to pass the measure if it makes the ballot for November 8 of this year. 

This is the second time in as many years that a tax proposal has been advanced to increase what is known as the “luxury transfer tax”. Measure SM was passed in 2020 and it doubled the tax on sales that exceed $5 million from 3 dollars to 6 dollars per each 1,000 dollars of each sale. Measure SM was very popular and passed with 71.88 percent approval.

<>Related Posts

Building Permit Fees to be Waived for Palisades Fire Victims, Mayor Announces

April 22, 2025

April 22, 2025

The waived fees and new initiatives build on emergency orders designed to unlock innovation and prioritize getting residents back home...

Revote Planned for Malibu School District Split

April 22, 2025

April 22, 2025

Committee’s Initial Rejection of Malibu’s Petition Faces Procedural Challenge A Los Angeles County committee narrowly voted to reject a proposal...

Lawsuits Allege Insurance Giants Conspired to Undercut California Fire Victims

April 21, 2025

April 21, 2025

Two Lawsuits Accuse Top Carriers of Price-Fixing and Violating Antitrust Laws Attorneys representing homeowners impacted by California’s January wildfires have...

Cali Camp Welcomes Los Angeles Campers

April 21, 2025

April 21, 2025

By Susan Payne Roam streams, meadows and oak trees in the heart of rock-lined Topanga Canyon this summer at Cali...

Mayor Karen Bass’ Budget Plan Proposes 1,647 Layoffs Amid $300M Liability Surge

April 21, 2025

April 21, 2025

Civilian LAPD Staff, Transportation, and Sanitation Departments Among Hardest Hit Mayor Karen Bass’ proposed city budget for the upcoming fiscal...

Santa Monica PD Makes Arrest in Ocean Front Walk Stabbing; Second Suspect Sought

April 21, 2025

April 21, 2025

Late-Night Stabbing in Santa Monica Prompts Manhunt After a shocking incident of violence in Santa Monica, a man has been...

City of Malibu Considers Sewer Upgrades in Fire-Prone Beach Zones

April 21, 2025

April 21, 2025

Findings from the Feasibility Study to Be Revealed at Public Meeting The City of Malibu is evaluating more resilient wastewater...

Free Blood Testing For Lead Available for Westside Residents After Wildfires

April 21, 2025

April 21, 2025

LA County Public Health Urges Residents Near Burn Areas to Get Tested The Los Angeles County Department of Public Health...

(Video) Palisades Residents Reunite Months After Wildfires at ‘Rooted in Resilience’ Event

April 21, 2025

April 21, 2025

Three Months After the Devastating Wildfires, Palisadians Reconnected at Clover Park for a Day of Music, Games, Food and More...

Siblings Stabbed on Santa Monica Beach

April 21, 2025

April 21, 2025

The stabbing comes amid heightened concerns over nighttime safety at Santa Monica State Beach A brother and sister were hospitalized...

Registration is Open for Harvard-Westlake Summer Programs

April 21, 2025

April 21, 2025

By Susan Payne Summer programs at Harvard-Westlake are open for registration.  Participants can experience renowned programs in academics, visual arts,...

Los Angeles City Attorney Sues Over Illegal Rentals, Wildfire Price Gouging

April 20, 2025

April 20, 2025

City Attorney Seeks Permanent Ban and Millions in Penalties for Operators City Attorney Hydee Feldstein Soto has filed a civil...

Venice Community Housing and Community Corp. of Santa Monica Partner on 20th Street Apartments

April 20, 2025

April 20, 2025

Construction Begins on Eco-Friendly Housing Development in Santa Monica Construction is officially underway on the 20th Street Apartments, a new...

Rents Stay Stable, but Economic Shifts Threaten the Balance

April 20, 2025

April 20, 2025

Tariffs and Tight Supply Could End Flat Rent Streak After more than a year of minimal fluctuation, asking rents, or...

Pali High Students to Resume In-Person Classes at New Downtown Santa Monica Campus

April 20, 2025

April 20, 2025

Santa Monica Welcomes Students With Transportation Help, Safety Measures Santa Monica is preparing to welcome Palisades Charter High School students...