Difference between revisions of "San Francisco Real Estate Transfer Tax Rates, Proposition N (November 2008)"

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{{TOCnestright}}A '''San Francisco Change in the Real Property Transfer Tax Rate, Proposition N''' ballot question was on the [[November 4, 2008 ballot measures in California#San Francisco|November 4, 2008 ballot]] in [[San Francisco City and County, California ballot measures#November 4|San Francisco]], where it was '''approved.'''
 
{{TOCnestright}}A '''San Francisco Change in the Real Property Transfer Tax Rate, Proposition N''' ballot question was on the [[November 4, 2008 ballot measures in California#San Francisco|November 4, 2008 ballot]] in [[San Francisco City and County, California ballot measures#November 4|San Francisco]], where it was '''approved.'''
  
Proposition N was '''approved''' with 68.56% of the vote.
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Proposition N increased the transfer tax rate to 1.5% for the sale of real estate worth $5 million or more. It did not increase the tax rate for the sale of real estate worth less than $5 million. Proposition N also extended the transfer tax to real estate leases of 35 years or more.
  
 
==Election results==
 
==Election results==
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:''These final, certified, results are from the [http://www.sfgov2.org/index.aspx?page=1793 San Francisco elections office].''
 
:''These final, certified, results are from the [http://www.sfgov2.org/index.aspx?page=1793 San Francisco elections office].''
  
==Text of measure==
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==Ballot question==
  
The language on the ballot said:
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{{Q box |
:Shall the City increase its transfer tax on sales of real estate worth more than $5 million to 1.5% and reduce the tax by up to 1/3 on sales of residences where the seller installed solar energy systems or made seismic safety improvements?  
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  text = '''Proposition N:''' "Shall the City increase its transfer tax on sales of real estate worth more than $5 million to 1.5% and reduce the tax by up to 1/3 on sales of residences where the seller installed solar energy systems or made seismic safety improvements?"
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}}
  
==External links==
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==Path to the ballot==
  
* [http://www.sfgov.org/site/uploadedfiles/elections/candidates/QualifiedLocalBallotMeasuresWithTitlesAsOf81508_3.pdf List of all measures on the November 4 San Francisco ballot]
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Proposition N was referred to the ballot on July 29, 2008 by a 9-2 vote of the [[San Francisco Board of Supervisors]].
* [http://www.sfgov.org/site/elections_page.asp?id=70720 Election results]
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'''In favor:''' Supervisors Ammiano, Daly, Dufty, Elsbernd, Maxwell, McGoldrick, Mirkarimi, Peskin and Sandoval.
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'''Against:''' Supervisors Alioto-Pier and Chu.
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==External links==
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{{submit a link}}
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* [http://sfpl4.sfpl.org/pdf/main/gic/elections/November4_2008.pdf November 4, 2008 official San Francisco voter guide]
 
* [http://www.sfusualsuspects.com/system/files/u14/Fall_Line_-_Maps_and_Analysis_from_Nov_2008.pdf David Latterman's analysis of the November 2008 San Francisco local ballot measures]
 
* [http://www.sfusualsuspects.com/system/files/u14/Fall_Line_-_Maps_and_Analysis_from_Nov_2008.pdf David Latterman's analysis of the November 2008 San Francisco local ballot measures]
  
 
{{Taxes in California}}
 
{{Taxes in California}}
[[Category:Local business tax, California, 2008]]
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[[Category:Local real estate transfer tax, California, 2008]]

Latest revision as of 10:49, 30 December 2012

A San Francisco Change in the Real Property Transfer Tax Rate, Proposition N ballot question was on the November 4, 2008 ballot in San Francisco, where it was approved.

Proposition N increased the transfer tax rate to 1.5% for the sale of real estate worth $5 million or more. It did not increase the tax rate for the sale of real estate worth less than $5 million. Proposition N also extended the transfer tax to real estate leases of 35 years or more.

Election results

Proposition N
ResultVotesPercentage
Approveda Yes 223,808 68.56%
No102,62131.44%
These final, certified, results are from the San Francisco elections office.

Ballot question

The question on the ballot:

Proposition N: "Shall the City increase its transfer tax on sales of real estate worth more than $5 million to 1.5% and reduce the tax by up to 1/3 on sales of residences where the seller installed solar energy systems or made seismic safety improvements?"[1]

Path to the ballot

Proposition N was referred to the ballot on July 29, 2008 by a 9-2 vote of the San Francisco Board of Supervisors.

In favor: Supervisors Ammiano, Daly, Dufty, Elsbernd, Maxwell, McGoldrick, Mirkarimi, Peskin and Sandoval.

Against: Supervisors Alioto-Pier and Chu.

External links

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