With election day around the corner, politicians are finalizing legislation for the ballot.
One proposition that affects real estate investors is Prop G. Prop. G imposes a 14 – 24% tax on residential properties with 2 – 30 units, including single-family homes with in-law units, if they are sold within five years of ownership.
The tax applies to the entire sales price of the property, NOT JUST THE PROFIT, and is in addition to the existing transfer tax that is already applied to residential property.
I encourage all residents to vote “NO” on G.
For more information on this proposition visit www.stopthehousingtax.com. If you are not a San Francisco registered voter, but would like to help, please donate.
For information
Best,
Natalie