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Supes, Activists, File Anti-Speculation Tax Measure

June 18, 2014

by Sasha Lekach : – excerpt

Tenant organizations, housing rights groups and other supporters gathered in front of San Francisco’s City Hall this afternoon before filing a November ballot measure to impose a surtax on real estate speculators.

San Francisco supervisors Eric Mar, Jane Kim, and David Campos joined community members, tenants and other supporters on the steps of City Hall to champion the proposed measure that will appear on the November ballot.

Supervisor John Avalos also shared his support of the measure, but was not able to attend the afternoon rally.

The anti-speculation tax ballot measure would impose a gradual real estate transfer tax on any short-term flip of property if a property is bought and sold in less than five years…

Campos said the measure is an attempt to “take the city back to its core values.”

He said the only way to stop greedy speculators is “to make it costly for speculators to come here.”

He noted that assassinated Supervisor Harvey Milk had been working on a similar housing measure before his death in 1978.

“This is consistent with the history of our community,” Campos said.

“Let’s send a very loud message that our city is not for sale,” Campos told the crowd, many part of the San Francisco Anti-Displacement Coalition…

Under the measure, there would be exemptions for new construction, properties being turned into affordable housing, buildings with more than 30 units and any homes not being resold at a profit, single-family homes, condominiums and owner-occupied tenancy in common, or TIC, units.

The measure was filed by today’s 5 p.m. deadline for four or more supervisors, or the mayor, to submit a proposed ordinance… (more)

One Comment leave one →
  1. holeshothunter permalink
    June 19, 2014 8:17 am

    This I agree with. Tax them prohibitively so that it is no longer in their interest to do it.
    Tax them until their eyes fall out for having done it in the first place.


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