Sacramento Mayor Kevin McCarty said Monday he would withdraw a measure from the November ballot that would have raised taxes on a small number of properties to generate revenue for housing and homelessness services.
McCarty unveiled the initiative last year during his State of the City address as a way to fulfill what he described as the American Dream. The tax rate was set to triple for “high value properties” — which the mayor previously said exempted 95% of transactions — to help first time homebuyers, renters who could end up homeless and the tiny homes intiative.
A city-sponsored poll found 51% of voters supported the referendum. McCarty said he required a higher margin of error before placing the initiative up for consideration…