San Jose: Measure E bringing in more money for affordable housing, homelessness than expected

San Jose: Measure E bringing in more money for affordable housing, homelessness than expected

2 years ago
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https://www.siliconvalley.com/2022/04/19/san-jose-measure-e-bringing-in-more-money-for-affordable-housing-homelessness-than-expected/

A 2020 ballot measure approved by San Jose voters to fund affording housing and the city’s burgeoning homeless crisis has brought in a surprised bonanza — a $65 million surplus.

Measure E — a real estate transfer tax for properties over $2 million — was estimated to put $40 million a year into the city’s coffers in both the 2020-21 and 2021-22 fiscal years.