Proposition W: A Measure to Increase the Real Estate Tax on Properties Sole for More than $5 Million
Shall the City increase the transfer tax rate for sales of residential and commercial properties from 2% to 2.25% for sales from $5 million up to $10 million; from 2.5% to 2.75% for sales from $10 million up to $25 million; and from 2.5% to 3% for sales of $25 million or more?
A “Yes” vote means:
A yes vote is a vote in favor of increasing the tax on the sale of houses and property from 2 percent to 2.25 percent for properties sold for between $5 million through $10 million, from 2.5 percent to 2.75 percent for properties sold for between $10 million through $25 million, and from 2.5 percent to 3 percent for properties sold for $25 million or more.
A “No” vote means:
A no vote is a vote against this proposition, thereby leaving the city’s real estate transfer tax unchanged.
Read the full text of San Francisco Proposition W here.