The newly renamed Chase Bank branch on Santa Clara Street in downtown San Jose

It looks like JP Morgan Chase is finally rebranding the local branches of Washington Mutual, which it “rescued” a few months ago. More information for WaMu customers is here.

No fooling, this is all too real.

Beginning April 1, the state sales and use tax rate increases by 1%.

The 1% tax rate increase will expire on either July 1, 2011, or July 1, 2012, depending upon whether the voters approve the proposed Proposition 1A Budget Stabilization constitutional amendment in a statewide election to be held on May 19, 2009. Actually there are seven ballot propositions that will determine what the state can and cannot do with tax dollars.

The state is also raising the Vehicle License Fee from .65 percent to nearly 1.15 percent of a vehicle’s value, beginning May 19 until June 30, 2013.

Effective April 1, 2009…

Santa Clara County 9.25%

City of Campbell 9.50%

Santa Cruz County 9.00%

City of Capitola 9.25%

City of Santa Cruz 9.50%

City of Scotts Valley* 9.25%

City of Watsonville 9.25%

Alameda County 9.75%

San Mateo County 9.25%

* The total includes the City of Scotts Valley Transactions and Use Tax rate that decreased to 0.25% from 0.50%.

California State Board of Equalization Website

Bank on San Jose is part of the Bank on California initiative launched by Governor Schwarzenegger, which brings more working class families into mainstream financial markets by encouraging the opening of special low-cost, starter bank accounts.

In San Jose, more than $25 million in fees were paid to non-bank check-cashing services and payday lenders in 2006. Checks totaling more than $574 million were cashed through non-bank check-cashing services.

“Imagine the economic and social benefits of keeping this $25 million in the hands of low and middle-income San Jose residents,” Carole Leigh Hutton, United Way Silicon Valley President and CEO said. “It could be used to build assets like a home, business, education or retirement savings.”

Requirements vary at the participating banks and credit unions with opening deposits ranging from $1.00 to $100.00, no monthly fee to $5.95, and most not requiring a minimum balance. I did not readily see the difference between regular accounts and the Bank on San Jose accounts for some institutions where as with others there was a significant advantage. It would be advantageous to check your options closely. Detailed information of the participating banks and credit unions here (PDF).

More information is available on the United Way Silicon Valley website.