Santa Monica voters rejected Measure H on Tuesday that sought to increase the city’s real estate transfer tax.
With 100 percent of precincts reporting, the ‘no’ vote collected 10,325 votes (57.8 percent) with only 7,528 ‘yes’ votes (42.2 percent).
The measure sought to increase the real estate transfer tax for commercial and non-commercial real estate sold for $1 million from $3 for each $1,000 of sales price to $9 for each $1,000.
Measure HH, which was an advisory vote whether to spend the extra money on affordable housing, among other things, if Measure H passed, will now have no effect despite it passing with 50.1 percent (8,886 votes).
Read Friday’s edition of The Mirror for detailed analysis on what this means for Santa Monica residents.
