Join NAIOP SFBA in taking action and oppose Prop I, the proposed increase to the San Francisco City real estate transfer tax on the November 2020 ballot.
- Increases transfer tax from 2.75% to 5.5% on property valued at $10 - $25M
- Increases tax rate from 3% to 6% on property valued at >$25M
- Directs tax revenue toward a general fund held by the City
Example of potential impact on San Francisco office building valued > $25M:
- Average office building price per square foot is approx. $800-$1,000/SF
- New additional transfer tax levy would be approx. $24-$30/SF
Educate - Spread the word and reach out to just one SF voter that you know, preferably not in real estate, to inform them about this measure.