City Hall
1 Dr. Carlton B. Goodlett
Place
San Francisco, CA 94102-
4689
City and County of San Francisco
Legislation Details
File #:
Version:
1
160803
Name:
Hearing - Initiative Ordinance (File No. 160604) -
Business and Tax Regulations Code - Increase Real
Property Transfer Tax on Properties of At Least
$5,000,000
Status:
Type:
Hearing
Filed
File created:
In control:
7/12/2016
Clerk of the Board
On agenda:
Final action:
7/19/2016
7/19/2016
Enactment date:
Enactment #:
Title:
Hearing of the Board of Supervisors sitting as a Committee of the Whole on July 19, 2016, at 3:00
p.m., to consider the Motion (File No. 160604) ordering submitted to the voters, at an election to be on
held November 8, 2016, an Ordinance amending the Business and Tax Regulations Code to increase
the Real Property Transfer Tax rate from 2% to 2.25% on properties with a consideration or value of at
least $5,000,000 and less than $10,000,000; from 2.5% to 2.75% on properties with a consideration
or value of at least $10,000,000 and less than $25,000,000; and from 2.5% to 3% on properties with a
consideration or value of at least $25,000,000, and to clarify the application of the Real Property
Transfer Tax to transfers of ownership interests in legal entities; and increasing the City’s
appropriations limit by the amount of the tax increase for four years from November 8, 2016.
Sponsors:
Attachments:
1. Board Pkt 071916
Action By
Date
Action
Result
Ver.
SCHEDULED FOR PUBLIC HEARING
Clerk of the Board
7/12/2016
1
HEARD AND FILED
Board of Supervisors
7/19/2016
1