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Tax on home sales among city’s possible revenue options to fund Belvedere flood fixes

After Belvedere got word a major flood-protection project would likely cost between $11.3 million and $27.1 million, city officials asked themselves: How is a city that maintains just a fraction of that amount in its reserves going to afford the project The answer may lie in a host of financing options presented to the City Council at its annual retreat Oct. 9. Those options, formulated by Belvedere resident and former investment banker Sally Wilkinson, include familiar ideas like assessing a new parcel tax or an ad valorem tax, along with one possibility that most intrigued councilmembers: a real-property transfer tax.

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