San Francisco Voters - What Tax Measures are on Your November Ballot?
Parcel Tax for Muni Funding (Ordinance H)
The Stronger Muni for All Measure would be an annual tax on parcels of real property in San Francisco beginning on July 1, 2027, and ending on June 30, 2042 (i.e. 15 years). The tax would be adjusted annually for inflation.
The proposed 2027 tax rates would be based on (a) type of building and (b) based on the square-footage of the building. If passed, the measure is expected to raise $160 million annually to help reduce Muni’s deficit and make “make marginal service quality improvements.”
Tax Breakdown
Owners of a single family residency pays a BASE flat tax of $129. Parcels between 3,001 square feet and 5,000 square feet of building area, add $0.42 per square foot over 3,000. For parcels over 5,000 square feet of building area, add $1.99 per square foot over 5,000. There is no maximum tax.
Owners of a multi-family residency pays a BASE flat tax of $249. For parcels over 5,000 square feet of building area, add $0.195 square foot over 5,000. Parcels between 5,001 square feet of building area and 50,000 square feet of building area, add $0.76 per square foot over 5,000. The maximum tax is $50,000.
Owners of non-residential properties pays a BASE flat tax of $799. Parcels between 50,0001 square feet and 250,000 square feet of building area, add $0.84 per square foot over 50,000. For parcels over 250,000 square feet of building area, add $0.99 per square foot over 250,000 square feet. The maximum tax is $400,000.
For mixed use parcels (buildings that are part residential and part non-residential), the tax would be $799 for parcels with up to 5,000 square feet of building area. For mixed use parcels with buildings over 5,000 square feet, the tax would be a combination of the residential and non-residential rates.
Changes to Real Property Tax (Ordinance I)
The proposed measure would reduce the current transfer tax by half for certain properties, and would establish a new transfer tax of approximately the same amount that the City could spend only on affordable housing and other specified purposes. The proposed measure would:
• Reduce the current transfer tax from 5.5% to 2.75% for properties with a sales price or value from $10,000,000 to under $25,000,000, and from 6% to 3% for properties with a sales price or value of $25,000,000 or more;
• Impose a new transfer tax of 2.75% for properties with a sales price or value between $10,000,000 and $25,000,000, and 6% for properties with a sales price or value of $25,000,000 or more.
BAY AREA REGIONAL SALES TAX MEASURE RTM
Measure RTM impacts voters for a sales tax increase to support public transit in
· Alameda county
· Contra Costa county
· San Mateo county
· Santa Clara county, and
· the City and County of San Francisco
If passed, an excise tax is hereby imposed on the storage, use, or other consumption in the district of tangible personal property purchased from any retailer during a 14 year period at the following rates:
(1) 0.5% in the Counties of Alameda, Contra Costa, San Mateo, and Santa Clara.
(2) 1% in the City and County of San Francisco.
Technically, it’s an excise tax imposed on a retailer but the retailer will pass this tax on to the consumer like a sales tax.