Supervisor Jane Kim today announced two future ballot measures that aim to increase both the hotel tax and taxes on certain real estate transfers. The hotel tax measure, which would be voted on next year, would also impact short-term rentals through sites like Airbnb.
“We are very fortunate here in San Francisco to be doing extremely well,” The Examiner reports Supervisor Kim as saying. “But not everyone is sharing in that wealth. We’re asking tourists and visitors to contribute a little more so we can really address homelessness here in San Francisco,” she continued.
The Examiner notes that Supervisor Kim hopes to direct revenue gained from tax increases, should the measures pass, toward combating homelessness.
“We can’t stop ultra-luxury homeownership, but we can ask them to pay more of their fair share,” Kim told the paper.
The hotel tax would be raised to 15 percent (from the current 14 percent), and the increase on the transfer tax is proposed at .25 percent and only applying to sales of over $5 million.