https://www.siliconvalley.com/2022/08/11/palo-alto-city-business-leaders-reach-compromise-on-new-tax-measure/

PALO ALTO — After days of negotiations between the council and a coalition of business leaders, Palo Alto council members voted Wednesday night to place a compromise business tax measure on the November ballot which could yield the city nearly $10 million a year.

Palo Alto council members voted 6-1 during a special meeting Wednesday to place a 7.5 cent tax per square foot of office space for all non-exempt businesses above 10,000 square feet. The tax measure includes an annual cap of $500,000 annually, and a flat 2.5% increase per year to be applied to both the monthly rate and the tax cap beginning in 2026.