Just in time to throw the rent and utility calculations a curve ball. A the article points out, this is one of several taxes the voters will face in November. But, we will also have the opportunity to vote to repeal at least one tax this year if enough people sign a petition to put it on the ballot. More on that later.
Check this site out: https://artaud.org/
By Rachel Swan : sfchronicle – excerpt (audio)
Officials in San Francisco have landed on a structure for the parcel tax to save Muni from financial collapse.
Aiming to raise about $187 million annually to prevent drastic cuts to the city’s bus and rail system, the tax is set to go before voters in November 2026. It would help patch a $307 million annual budget deficit that could grow to $434 million in five years, all but surely sending Muni into a death spiral if the public fails to provide some form of economic life raft.
After months of deliberation and roundtables, policymakers in Mayor Daniel Lurie’s office agreed on a “progressive” tax composition that would link the rate to the square footage and nature of a property. The philosophy, at heart, is to spare middle-class households and small businesses, while asking more of major employers and owners of sprawling real estate.
All revenue would go toward an essential city service, with $150 million directed to close Muni’s operating deficit, $22 million to expand the transit system and other funds earmarked for administrative costs and senior exemptions from the tax…
If approved, the Muni parcel tax would be split into three groups:
1. Single-family homes Some 96% of single-family homeowners — those with property smaller than 3,000 square feet — would pay a flat fee of $129. Meanwhile, the city would place an incrementally larger burden on its wealthiest residents. Those with mansions on Billionaire’s Row would pay $129 for their first 3,000 square feet, 42 cents for each additional square foot up to 5,000 square feet, and $1.99 per square foot beyond that threshold.
2. Multifamily homes Landlords of multifamily residential properties would pay a base annual tax of $249 for parcels smaller than 5,000 square feet. Owners of bigger apartment complexes would pay the introductory $249 plus 30 cents for each square foot exceeding 5,000 square feet, with a cap at $250,000.
3. Commercial buildings Owners of commercial properties would pay the highest premium, a $799 fee up to 5,000 square feet, with a tiered rate per additional square foot that corresponds to property size. Fees for the biggest nonresidential structures would cap at $400,000. Historically, landlords in San Francisco have had the ability to shift some costs associated with parcel tax hikes over to their tenants by filing petitions with the rent board. But policymakers have not yet indicated whether such pass-throughs will be allowed with the Muni tax.