Ballot Measure would Tax House Flipping in San Francisco

Eric Young reports on a "Stop the Flip" ordinance that will appear on the November ballot in San Francisco.

"[The] proposal would impose a steep transfer tax on people who buy and sell multi-unit buildings within a five-year period. The rate starts at 24 percent if the sale takes place in the first year and lowers to 14 percent after five years," reports Young.

"The ballot measure includes exemptions for single-family homes, condos or owner-occupied tenants-in-common units."

As San Francisco has proven time and time again, change is likely to provoke public opposition. In this case: "Opposition is likely to come from property owners. Some opponents also point out that rather than slowing or leveling out property prices the measure could drive up prices if it leads to fewer buildings available for sale."

Full Story: Voters could slam S.F. house flippers with major tax

Comments

Book cover of the Guide to Graduate Planning Programs 4th Edition

Thinking about Grad School?

New! 4th Edition of the Planetizen Guide to Graduate Urban Planning Programs just released.
Starting at $24.95

Prepare for the AICP Exam

Join the thousands of students who have utilized the Planetizen AICP* Exam Preparation Class to prepare for the American Planning Association's AICP* exam.
Starting at $209

City Coasters

Hand-drawn engraved maps of your favorite neighborhoods are divided up across 4 coasters making each one unique.
$36.00
Women's t-shirt with map of Los Angeles

City T-Shirts for the ladies!

Women's Supersoft CityFabric© Fashion Fit Tees. Now available in six different cities.
$24.00