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HomeMy WebLinkAboutCC 07-21-2026 Item No. 9 Utility Users Tax Ballot Measure_Supplemental ReportCC - 07-21- 2026 #9 Utility Users Tax Ballot Measure Supplemental Report 1 FINANCE DEPARTMENT CITY HALL 10300 TORRE AVENUE • CUPERTINO, CA 95014-3255 TELEPHONE: (408) 777-3220 CUPERTINO.GOV CITY COUNCIL STAFF REPORT SUPPLEMENTAL 1 Meeting: July 21, 2026 Agenda Item #9 Subject Approval of a Resolution submitting an Ordinance to the voters to Extend the Current Utility Users Tax and Telecommunications Tax by 10 Years after its Expiration Date, placing this Measure on the ballot for the November 3, 2026 General Municipal Election and consolidating it with the statewide election. Recommended Action Adopt Resolution No. 26-XXX submitting an Ordinance (measure) to the voters for extending the current Utility Users Tax and Telecommunications Tax by 10 years after its expiration date. Background: Staff’s responses to questions received from councilmembers are shown in italics. Q1: My understanding of the UUT is per Council action, the status quo will continue for another ten years at the existing rate of 2.4%. From a budget standpoint, will this not result in diminishing revenues from year to year? Here's an example: my PGE bill used to be in the $300 range, and city share of UUT was 2.4% of $300. We have installed solar panels in the last six months and switched to induction cooking from gas. My PGE bill is now in the $10 range. The city will therefore collect 2.4 percent of $10. How will this help our budget situation? Staff Response: Extending the existing 2.4% Utility Users Tax (UUT) preserves a significant ongoing revenue source that would otherwise expire in 2030. However, because the measure does not increase the tax rate or expand the tax to include additional services, it does not guarantee that revenues will keep pace with inflation or future budget needs. As utility consumption patterns evolve, such as through increased adoption of rooftop solar and other energy-efficient technologies, portions of the tax base may decline over time. Staff will continue to monitor these trends and incorporate them into future financial forecasts. 2 Attachments Provided with Original Staff Report: A – Draft Resolution