Vote NO on Regional Measure 4 (RM4) –
the “$20 Billion” Regional Housing Tax
Vote NO on Regional Measure 4 (RM4) –
the “$20 Billion” Regional Housing Tax
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UN-AFFORDABLE HOUSING TAX
$42,000 in extra taxes
for a new median-priced homeNo exemptions for Seniors
No exemptions for Disabled
RM4 Makes You Poor!
Vote NO on RM4
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TAXING
Renters and Owners alike will pay
$48.3 Billion in New TaxesOver 53 years, your property will pay extra taxes of:
$21,000 for a $1 million home*
$42,000 for a $2 million home*
$63,000 for a $3 million home**assessed value
Vote NO on RM4
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WASTEFUL HOUSING TAX
$48.3 Billion in New Taxes
over 53 years!Only 33% goes to Housing
Wastes $32.3 Billion
on Bond Interest and
Bureaucratic OverheadVote NO on RM4!
FAQ
What is RM4?
RM4 stands for “Regional Measure 4.” It is a proposed new tax that will be on the November 5, 2024, ballot to raise property taxes $48.3 Billion in the nine Bay Area counties (that’s why it is called “Regional”).
Who has to pay the new tax – and for how long?
Homeowners will have it added to their property tax bills. Renters will see their rents rise as landlords who pay the tax pass on the cost. Small businesses will see their lease costs increase, too. The tax is planned to last for 53 years.
How do I vote on RM4?
You must be registered to vote in one of these counties: Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano, or Sonoma. You can register on line until October 15. Then vote by mail or in person on November 5. More information is here: https://vote.gov/register/california
more FAQ
News
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BAHFA’s OWN TAX RATE STATEMENT SUMMATION
BAHFA’s own calculations show:
TOTAL DEBT SERVICE : $48,281,750,400 (includes interest payments)
BONDS ISSUANCE AMOUNT: $20,000,000,000
RESPONSIBLE COUNTIES: 9
BOND DURATION: 53 YEARS
INITIAL FISCAL YEAR OF COLLECTION: 2024-2025
FINAL FISCAL YEAR OF COLLECTION: 2077-2078
HIGHEST RATE: $34.20 per $100,000 of assessed valuation
AVG RATE: $18.98 per $100,000 of assessed valuation
This could cost you more than $40,000!
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UNAFFORDABLE, UNPROVEN and UNFAIR!
In November, Vote NO on the largest, most expensive regional housing bond in U.S. history – Vote NO on Regional Measure 4. The $20 BILLION of BONDS that will cost over $48 BILLION, including interest, is being requested by the BAY AREA HOUSING FINANCE AUTHORITY (“BAHFA”). This bloated bureaucracy was created in 2019, with no history of expertise in housing, and it wants to spend your money as its pilot project.
BAHFA is one of the many faces of the METROPOLITAN TRANSPORT COMMISSION (‘MTC”), uses the same San Francisco facilities and has the same non-elected officer. But it has neither built nor financed a single house or apartment building.
Regional Measure 4 will be on the November 5, 2024, ballot for five million voters in the nine counties: Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano, and Sonoma. The TOTAL vote of all nine counties will determine whether the BAHFA bond passes. So it is possible that every voter in your county could vote against it and yet the combined votes of two larger counties — who would get the most benefit — could impose the BAHFA bond on you. No county can “opt out.” EVERY ‘NO’ VOTE MATTERS.
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What will it cost me? Annual and estimated total cost*
| Region | per year | 50+ years |
|---|---|---|
| Santa Clara County | $XXX | $XXX |
| Alameda County | $XXX | $XXX |
| Contra Costa County | $XXX | $XXX |
| San Francisco City and County | $XXX | $XXX |
| San Mateo County | $XXX | $XXX |
| Sonoma County | $XXX | $XXX |
| Solano County | $XXX | $XXX |
| Marin County | $XXX | $XXX |
Checks can be made out and mailed to:
20 Billion Reasons
P.O. Box 1677
San Mateo, CA 94401
For donations of $100 or more, please include a note with your employer’s name and your job title, or indicate if “retired.” We are required by California law to report this information.