Palo Alto Measure K is an ordinance to tax businesses operating in Palo Alto, to fund public services.
The tax will charge a 7.5% percent monthly rate to large businesses per square foot occupied. Exempt from this tax are grocery stores, small businesses under 10.000 square feet and nonprofits.
City staff estimates the business tax will bring an additional 9.6 million dollars a year more to the city.
With these funds, the city will improve affordable housing and homeless services, increase public safety and build grade separated train crossings at four existing rail crossings. This project will improve traffic flow and safety for bicyclists and pedestrians.
Several elected public officials support Measure K, including Mayor Patrick Burt.
Opponents included Joe Dehn, the chair of the Libertarian Party of Santa Clara County.
