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Getting your
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Measure N, Portola Valley’s charter town initiative, appears to be headed for approval. Early results show that it is leading with 64% of the vote as of 8:10 p.m., after polls closed on election night.
The Town Council placed Measure N on the ballot to decide whether Portola Valley would become a charter town and authorize a real property transfer tax. It will establish a tax of $10 per $1,000 of a property’s sale price.
“It’s excellent news,” said Mayor Craig Taylor. “I’m pleased it’s ahead. It definitely shows that there’s a deep love for Portola Valley from the residents and it’s an opportunity to get our financial situation in order.”
He explained that the town is currently facing a $700,000 annual deficit that is projected to grow. If the measure passes, “the hard work is to make sure we spend the money wisely and we spend it in the right places,” Taylor said.
The Town Council unanimously voted to place the local funding measure on the Nov. 3 ballot in hopes of boosting the town’s revenue in the midst of an ongoing budget deficit.
Town staff have clarified that becoming a charter town does not have any impact on Portola Valley’s autonomy, but it does allow the...