San Jose is weighing a parcel tax to help cover a $1 billion bill to upgrade streets over the next decade, according to a published report.
The city needs $600 million to improve local streets, and the rest will be covered by state and regional funds, city officials said, according to the San Jose Mercury News.
Transportation officials told the City Council Tuesday that San Jose has 15% of the money needed to maintain its roads.
Officials pitched the city’s transportation committee the idea of a parcel tax that would cost somewhere around $100 to $400 a year per property parcel, the newspaper said.
The tax would require two-thirds voter approval. A parcel tax is the common term used in California for a “qualified special tax” imposed by a local unit of government.
San Jose expects a general fund deficit of up to $115 million in the next fiscal year after closing a similar-sized hole this year with steep cuts.
