> ## Content Index > Fetch the complete content index at: https://www.berkeleyscanner.com/llms.txt > Use this file to discover other available public pages before exploring further. # 4 questions to ask before you vote on Measure Z: Op-ed - URL: https://www.berkeleyscanner.com/2026/10/16/community/4-questions-to-ask-measure-z-op-ed/ - Published: 2026-10-16T23:55:00.000Z - Updated: 2026-10-16T23:54:59.000Z - Description: Measure Z asks Berkeley taxpayers to fund a regional bank without requiring neighboring cities to contribute, the authors write. - Author: Guest Essay - Tags: Community, Guest Essays, #articles, Elections *Editor's Note: TBS publishes guest essays from community members on issues of concern. Today's piece was written by* *Paul Mathew, a 20-year resident of Berkeley, a building decarbonization consultant and chair of Affordable Berkeley; and Steve Tracy, a Berkeley resident and retired public school teacher with an MBA.* --- Berkeley voters face a crowded ballot this November: a sales tax increase, a $300 million infrastructure bond, an arts parcel tax, a soda tax increase. Whatever you think of each one, they share a basic feature. The money stays in Berkeley and pays for things in Berkeley. Measure Z is the exception. Berkeley pays but the benefits leave Berkeley. Measure Z is a six-year parcel tax on every home and business in the city, expected to raise $58.3 million. The money would not go to streets, parks or city services. It would be used to start a regional public bank for the East Bay. Before you vote, here are four questions worth asking. **Who else is paying?** So far, nobody. Years ago, a public bank idea was pitched as a joint project of Oakland, Berkeley, Richmond and Alameda County, with Berkeley putting in about $2.5 million. Today the cost is $58M. Neither Oakland nor the county have committed a dollar. Richmond pledged $750K, but only if the county pays in and regulators approve the bank. The measure's backers have been candid about why they came here: Oakland voters "didn't have an appetite for a parcel tax," but Berkeley polled better. **Where will the loans go?** Anywhere in the East Bay. Nothing in Measure Z requires that Berkeley get back benefits in proportion to what it puts in, and nothing requires other cities to contribute before our tax dollars are lent out. Though the campaign's slogan is "keep Berkeley money local," the measure itself makes no such promise. **Will there even be a bank?** Nobody knows. It needs sign-off from both the FDIC and state regulators, and it can't apply until the $58M has been collected over six years. If approval hasn't come by June 2033, the funds stay in a special city account for loans, under rules the measure barely sketches. And if the bank does open, you won't be a customer. It will have no personal accounts, no ATMs and no branches. **Who can hit the brakes?** No one. The tax rate rises each year by Bay Area inflation or state income growth (4.95% in 2025), whichever is greater. Berkeley's prior parcel taxes let the City Council reduce or suspend those increases. This one does not. It also orders the city auditor to produce annual reports and performance audits without providing any money to do it. That cost falls on a general fund already facing a $30 million structural deficit and recent layoffs. These are not objections to public banking. Affordable housing, clean energy and small business lending are goals most of Berkeley shares, and they are funded today through state, federal and local programs. The objection is to the bad terms. Berkeley carries the cost and the risk, the whole region gets the benefit, and Berkeley taxpayers get no way out. Others who looked closely reached the same conclusion. The Berkeley Democratic Club opposes Measure Z, the only revenue measure it has opposed this year. The League of Women Voters declined to endorse it. Three sitting council members — Mark Humbert, Rashi Kesarwani and Terry Taplin — have publicly urged a No vote. A regional bank should be built by the region. Until our neighbors are ready to pay their share, Berkeley should keep its money working at home. **Vote No on Measure Z.** ![](https://storage.ghost.io/c/8e/3b/8e3bb516-9b88-46c2-aa85-566ed9c3647c/content/images/2026/10/No-on-Bank-Tax-18x24.jpg) A graphic created by Affordable Berkeley to oppose Measure Z. ## Related resources Learn more about [all the Berkeley ballot measures](https://berkeleyca.gov/your-government/elections/ballot-measures?ref=berkeleyscanner.com) for November 2026 on the city website. - [Measure Z](https://berkeleyca.gov/sites/default/files/Berkeley%5FPublic%20Bank%20-%20Text.pdf?ref=berkeleyscanner.com): Initiative ordinance creating a parcel tax to fund a public bank (majority) - The city attorney's [impartial analysis](https://berkeleyca.gov/sites/default/files/Nov%202026%20Impartial%20Analyses.pdf?ref=berkeleyscanner.com) of each Berkeley ballot measure --- **The Scanner will periodically publish** [**guest essays**](https://www.berkeleyscanner.com/author/guest-essays/) **from community members on issues of interest or concern. Submit** [**your ideas**](https://www.berkeleyscanner.com/tips/) **to TBS.** ## Sign up for The Berkeley Scanner Authoritative crime + safety news Subscribe Email sent! Check your inbox to complete your signup. No spam. Unsubscribe anytime.