Why does the tax include a maximum rate, or cap, of $7999?
The cap amount was reached through collaborative discussions between the business community and the Board of Education, in an effort to both provide the funding our schools need and keep our local businesses competitive. Alameda has been successful recently in attracting new businesses here. The Board of Education and the business community thought it was important to support that trend — and to avoid an unlimited tax that could hurt jobs and economic growth. This was one part of structuring an overall compromise that most Alamedans could find reasonable. As noted above, the Chamber and WABA – representing businesses of all types, including small and medium-sized businesses – have endorsed Measure A.
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