Voters in the San Francisco Bay area approved a new annual property tax of $12 per parcel aimed at mitigating the effects of climate change.
The measure, which passed with 69% of the vote, is expected to raise a half billion dollars over the next 20 years. Some opponents said the flat rate was unfair because it taxed everyone at the same level, but proponents said the $1 a month tax was not onerous.
About 80% of the Bay’s marshes have already been lost to development, according to reports. One study estimates there is $62 billion worth of property at risk from climate change in the Bay Area.
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