Coming soon to Netflix: Los Gatos voters say yes to higher business taxes with Measure J

The town of Los Gatos appears poised to raise its business tax rate for the first time in more than 30 years, according to unofficial results from Tuesday’s election.

Measure J, which would increase the town’s base business tax rate by 30 percent for businesses with more than $50,000 in annual gross receipts, continued to lead in election results updated Friday afternoon. Yes votes outnumbered No votes by 54.3 percent to 45.7 percent. Los Gatos’ business tax structure has remained static since 1991.