presents
Voter’s Edge California
Conozca la información antes de votar.
Presentado por
MapLight
League of Women Voters of California Education Fund
San Mateo County Libraries Voter Guide@SMCLibraries
November 8, 2016 — Elección General de California
Condado

City and County of San Francisco
Measure W Ordinance - Majority Approval Required

To learn more about measures, follow the links for each tab in this section. For most screenreaders, you can hit Return or Enter to enter a tab and read the content within.

Resultados electorales

Passing

225,145 votos si (61.93%)

138,414 votos no (38.07%)

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?

¿Qué es esta propuesta?

Información básica sobre la iniciativa de ley — Información oficial sobre esta iniciativa

Resumen

Ballot Simplification Committee

The Way It Is Now: The City collects a transfer tax on most sales of residential and commercial real estate in San Francisco. The tax also applies to leases with terms of 35 years or more. The tax rate usually depends on the real estate’s sale price. The current transfer tax rates are:

Sale Price of Real Estate

Tax Rate

More than $250,000 and less than $1,000,000

0.68%

At least $1,000,000 and less than $5,000,000

0.75%

At least $5,000,000 and less than $10,000,000

2.00%

At least $10,000,000

2.50%

The money collected from this tax goes into the City’s General Fund.

When a business changes ownership, it must pay a transfer tax on the real estate it owns.

State law limits the amount of revenue, including tax revenue, the City can spend each year. State law authorizes San Francisco voters to approve increases to this limit for a maximum of four years.

The Proposal: Proposition W would increase the transfer tax rate for real estate with a sale price of more than $5 million, including leases of 35 years or more. For property with a sale price of less than $5 million, the current tax rate would not change. The proposed tax rates are:

Sale Price of Real Estate

Proposed Tax Rate

More than $250,000 and less than $1,000,000

0.68% (no change)

At least $1,000,000 and less than $5,000,000

0.75% (no change)

At least $5,000,000 and less than $10,000,000

2.25%

At least $10,000,000 and less than $25,000,000

2.75%

At least $25,000,000

3.00%

Proposition W would also increase the state’s limit on the City’s annual tax revenue spending by the amount of additional taxes collected under the proposed rate increases. The increased limit would last for four years.

A “YES” Vote Means: If you vote “yes,” you want to increase the transfer tax rate for sales of residential and commercial properties:

• to 2.25% for sales from $5 million up to $10 million;

• to 2.75% for sales from $10 million up to $25 million; and

• to 3.00% for sales of $25 million or more.

A “NO” Vote Means: If you vote “no,” you do not want to make these changes.

Published Arguments — Arguments for and against the ballot measure

Use tabs to select your choice. Use return to create a choice. You can access your list by navigating to 'My List'.

Comparta este sitio para ayudar a otras personas a investigar sus opciones para las votaciones.

PUBLISHING:PRODUCTION SERVER:PRODUCTION