San José Faces $60 Million Budget Shortfall As Negotiations Begin. The San José City Council began negotiations to balance the city budget at an informational hearing on Tuesday amid financial headwinds and political uncertainty over federal funding brought on by the Trump administration.
Measure E exempts properties valued below $2 million thereby ensuring it is not prohibitive to would-be first-time homebuyers or a burden on average San Jose residents. It also exempts properties that are transferred through an inheritance, gift, divorce, or certain government transactions.