Portola Valley Town Council Candidates Discuss Financial Crisis at Town Forum

Portola Valley, California

March 8, 2023

The Portola Valley Town Council candidates discussed the town's financial crisis at a town forum on Tuesday. The candidates presented their plans to address the crisis and answered questions from residents.

The town is facing a $2 million budget deficit, which is expected to grow to $4 million by 2025. The deficit is due to a number of factors, including declining property tax revenue and rising expenses.

The candidates offered a variety of solutions to address the financial crisis. Some of the most common proposals included raising taxes, cutting expenses, and increasing economic development.

Raising Taxes

Some of the candidates proposed raising taxes to increase revenue. The most common tax increase proposal was to increase the property tax rate. However, some residents expressed concern that raising taxes would place an undue burden on homeowners.

Cutting Expenses

Other candidates proposed cutting expenses to reduce the deficit. Some of the most common expense-cutting proposals included reducing the size of the town staff, cutting back on town services, and privatizing some town functions. However, some residents expressed concern that cutting expenses would reduce the quality of life in Portola Valley.

Increasing Economic Development

Some of the candidates proposed increasing economic development to increase revenue. The most common economic development proposal was to attract new businesses to Portola Valley. However, some residents expressed concern that increasing economic development would lead to traffic congestion and other problems.

The Town Council will hold a public hearing on the budget on March 15. The Council is expected to vote on the budget on March 22.