Portola Valley voters will decide Nov. 3 whether to become a charter town and authorize a real property transfer tax of $10 for every $1,000 of a property's sale price, under Measure N.
The Town Council placed the measure on the ballot unanimously in July. It needs a simple majority to pass. All transfer-tax revenue would go to the town's general fund; none would go to the county, state or federal government, town officials told The Almanac.
Why the town says it needs the money
Assistant Town Manager Tony McFarlane said without new revenue the general fund faces an ongoing deficit of about $700,000 a year, forecast to deplete reserves by 2030, The Almanac reported. The San Mateo County Sheriff's contract that serves as the town's police force has risen 85% over five years.
Supporters say the money would help pay for wildfire vegetation work, storm-drain repairs, sheriff patrols and other municipal services, and keep zoning decisions local rather than under county control if the town's finances collapsed.
Who is for and against
Primary signers in favor include town historian Nancy Lund and former mayor Gary Neilsen. Finance Committee member William Urban leads the argument against, calling the tax "unfair and inequitable" because only the 2% to 3% of residents who sell each year would pay — $45,000 and up on an average-priced sale, opponents wrote — while others pay nothing. Urban said a smaller annual parcel tax would spread the burden more evenly.
Full text, the draft charter and ballot arguments are on the town election page. Related: our Election 2026 hub.