PALO ALTO — Palo Alto leaders have until Friday to place a new business tax ballot measure after negotiations with business leaders broke down during Monday’s city council meeting days before a county elections deadline.
Public perception and opposition are among the biggest sticking points on the proposed tax, but city council members appear to be in general agreement about the business tax. On Monday the council added another provision capping tax revenue at $1 million per business due to pressure from the Silicon Valley Leadership Group and the Palo Alto Chamber of Commerce.
“For example,” Kostenbauder said, “the city of Santa Clara just voted to place an updated business tax on the November ballot that would raise about $6 million and would have a cap of $350,000 on any one business. By contrast, the latest Palo Alto proposal, with about half the population of Santa Clara, would raise about $16.5 million and would have a cap of $1 million for any one business.”
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