{"id":282705,"date":"2026-04-23T22:10:12","date_gmt":"2026-04-23T22:10:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ca\/282705\/"},"modified":"2026-04-23T22:10:12","modified_gmt":"2026-04-23T22:10:12","slug":"should-s-f-cut-real-estate-transfer-tax","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ca\/282705\/","title":{"rendered":"Should S.F. cut real estate transfer tax?"},"content":{"rendered":"<p>Welcome to our weekly \u201cMeet the Candidates\u201d series, in which we ask local candidates who have filed to run for office to respond to a question in 100 words or fewer. Answers will be published each week.<\/p>\n<p>District 4 covers the area from 19th Avenue to Ocean Beach, Golden Gate Park to Lakeshore. It includes the Sunset, Parkside and Lakeshore neighborhoods.<\/p>\n<p>Mission Local is hosting a free District 4 candidates forum on April 29 at the Ortega Branch library. Doors open at 5:30 pm. <a href=\"https:\/\/www.eventbrite.com\/e\/mission-local-presents-the-district-4-candidates-forum-tickets-1985945869556?aff=ebdssbdestsearch\" rel=\"nofollow noopener\" target=\"_blank\">RSVP here<\/a>.<\/p>\n<p>San Francisco is facing a projected <a href=\"https:\/\/www.google.com\/url?sa=t&amp;source=web&amp;rct=j&amp;opi=89978449&amp;url=https:\/\/missionlocal.org\/2026\/03\/sf-budget-deficit-shrinks\/&amp;ved=2ahUKEwiR2Y-79ISUAxX-ETQIHTIuJcUQFnoECB8QAQ&amp;usg=AOvVaw3SXJlX3rOuqUSNUZzSFKG1\" rel=\"nofollow noopener\" target=\"_blank\">$643 million<\/a> two-year budget deficit. And it\u2019s about to get worse, as new contracts for the San Francisco Police Department and Fire Department will <a href=\"https:\/\/missionlocal.org\/2026\/04\/police-fire-union-contract-poa-sf-city-budget-deficit\/\" rel=\"nofollow noopener\" target=\"_blank\">add to the shortfall.<\/a>\u00a0<\/p>\n<p>The mayor\u2019s office has <a href=\"https:\/\/missionlocal.org\/2025\/12\/sf-budget-cuts-mayor-daniel-lurie\/\" rel=\"nofollow noopener\" target=\"_blank\">asked city departments<\/a> to cut services and issued <a href=\"https:\/\/missionlocal.org\/2026\/04\/sf-lurie-layoffs-unions-fight-ifpte-seiu-budget\/\" rel=\"nofollow noopener\" target=\"_blank\">layoffs<\/a> to city employees. Already, some <a href=\"https:\/\/missionlocal.org\/2026\/04\/dph-cuts-sf-youth-clinics-huckleberry-larkin\/\" rel=\"nofollow noopener\" target=\"_blank\">health clinics<\/a> are closing, and <a href=\"https:\/\/missionlocal.org\/2026\/04\/sf-16th-mission-marshall-elementary-community-ambassadors\/\" rel=\"nofollow noopener\" target=\"_blank\">community ambassadors<\/a> \u2014 city contractors who do foot patrols in areas with high rates of low-level crime \u2014 have received layoff notices.\u00a0\u00a0<\/p>\n<p>Meanwhile, in February, the mayor introduced a plan with Supervisor Bilal Mahmood, to <a href=\"https:\/\/missionlocal.org\/2026\/03\/sf-lurie-mahmood-transfer-tax-cut-housing\/\" rel=\"nofollow noopener\" target=\"_blank\">cut the transfer tax<\/a> in half for most transfers of high-value commercial and residential real estate.\u00a0<\/p>\n<p>Dubbed the <a href=\"https:\/\/www.sf.gov\/news-mayor-lurie-supervisor-mahmood-unveil-plan-to-create-housing-jobs\" rel=\"nofollow noopener\" target=\"_blank\">BUILD Act<\/a>, the legislation will cut local taxes on the transfer of properties worth over $10 million from 5.75 to 2.75 percent, and taxes on the transfer over $25 million from 6 to 3 percent.\u00a0\u00a0\u00a0<\/p>\n<p>The plan will effectively undo <a href=\"https:\/\/sfpl.org\/locations\/main-library\/government-information-center\/san-francisco-government\/san-francisco-1\/san-1?title_value=&amp;description_value=&amp;prop_letter_value=I&amp;month=11&amp;year=2020\" rel=\"nofollow noopener\" target=\"_blank\">Proposition I<\/a>, a ballot measure passed by voters in 2020. Prop. I intended to use the revenue to support the construction and maintenance of affordable housing. But <a href=\"https:\/\/missionlocal.org\/2022\/05\/prop-i-could-make-social-housing-a-reality-if-the-mayor-disperses-funds\/\" rel=\"nofollow noopener\" target=\"_blank\">Mayor London Breed<\/a> and later <a href=\"https:\/\/missionlocal.org\/2025\/12\/whos-behind-those-shimby-posters-across-san-francisco\/\" rel=\"nofollow noopener\" target=\"_blank\">Lurie<\/a> have allocated the money for other purposes facing the city\u2019s budget deficit.\u00a0\u00a0<\/p>\n<p>Lurie and Mahmood say that the BUILD Act will create jobs and incentivize new housing construction. Because it will also reduce money coming into the city\u2019s general fund, they have promised to propose a November ballot measure to tax transfers of foreclosed properties, which are currently exempt.\u00a0<\/p>\n<p>Affordable housing advocates are skeptical: The transfer tax coming from foreclosed properties might not fully offset the tax cut on high-value properties, they said. While the BUILD Act only needs to pass at the Board of Supervisors, the ballot measure would require San Francisco voters to weigh in.\u00a0<\/p>\n<p>Advocates also wonder why the tax cut would apply to not only residential buildings, but also commercial properties like office buildings.\u00a0<\/p>\n<p>This week, we asked District 4 candidates: Do you support the BUILD Act? Why or why not?\u00a0<\/p>\n<p>Mission Local color codes the answers to yes\/no questions. A blue background means the candidate answered yes, an orange background means no, and a yellow background means that the candidate answered ambiguously.\u00a0<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"640\" src=\"https:\/\/www.newsbeep.com\/us-ca\/wp-content\/uploads\/2026\/03\/Greco-Rust-640x640.png\" alt=\"Cartoon illustration of a person wearing a green beanie and a red plaid shirt, shown inside an orange circle background.\" class=\"wp-image-839618\"  \/><\/p>\n<p>Jeremy Greco<\/p>\n<p>Job: Campus coordinator at Presidio Hill School<\/p>\n<p>Age: 54<\/p>\n<p>Residency: Renter, living in District 4 since 2001<\/p>\n<p>Transportation: Driving<\/p>\n<p>Education: Bachelor\u2019s degree from San Francisco State University<\/p>\n<p>Languages: English<\/p>\n<p>I do not support this proposal.\u00a0<\/p>\n<p>San Francisco needs housing and jobs, but continuous tax cuts for large real estate interests are not the answer. The city recently found additional revenue, and we should see what happens if Proposition D passes before giving away more resources.\u00a0<\/p>\n<p>Our priority should be working people, families, seniors, and everyone trying to get by. Many projects are stalled because of financing and construction costs, not transfer taxes. I\u2019d rather invest in community land trusts, affordable housing, filling empty units, and intergenerational housing where artists receive reduced rent while helping seniors create art and build community.<\/p>\n<p>Endorsed by: San Francisco Green Party (ranked #2)<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"640\" src=\"https:\/\/www.newsbeep.com\/us-ca\/wp-content\/uploads\/2026\/03\/Lee-Rust-640x640.png\" alt=\"Illustration of a man with short dark hair, wearing a gray suit, light blue shirt, and white tie, set against an orange circular background.\" class=\"wp-image-839621\"  \/><\/p>\n<p>David Lee<\/p>\n<p>Job: Educator at Laney College and San Francisco State University<\/p>\n<p>Age: 57<\/p>\n<p>Residency: Homeowner, living in D4 since September 2025<\/p>\n<p>Transportation: Driving, biking, public transit and walking<\/p>\n<p>Education: Bachelor\u2019s degree from Hamilton College, master\u2019s and doctorate degree from San Francisco State University<\/p>\n<p>Languages: English. Can understand Cantonese, Mandarin and Toishanese, but limited fluency.<\/p>\n<p>I strongly oppose the BUILD Act because it is a step backward for our housing progress. Right now, affordable housing projects across the city are struggling to break ground due to a lack of funding.\u00a0<\/p>\n<p>The BUILD Act would cut the city\u2019s transfer tax in half, slashing a vital revenue stream just to give a tax break to wealthy developers. San Francisco voters explicitly approved that transfer tax to invest in affordable housing. I personally supported and voted for Prop. I in Nov. 2020. I will honor the will of the voters and prioritize funding real affordable housing for our \u2026 read more <a href=\"https:\/\/newspack-missionlocal.s3.amazonaws.com\/mission\/wp-content\/uploads\/2026\/04\/D4-Meet-the-Candidates-04-23-2026-Lee.pdf\" rel=\"nofollow noopener\" target=\"_blank\">here<\/a>. <\/p>\n<p>Endorsed by: Retired judge Quentin Kopp, Lillian Sing, Julie Tang, Supervisor Chyanne Chen, Former Supervisor Aaron Peskin, Sandra Lee Fewer, Sophie Maxwell, Former SFPD Commander Richard Corriea<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"640\" src=\"https:\/\/www.newsbeep.com\/us-ca\/wp-content\/uploads\/2026\/03\/Wong-Pale-Yellow-640x640.png\" alt=\"Cartoon illustration of a smiling person wearing a light gray suit, white shirt, and red tie, with short dark hair, set against a yellow circular background.\" class=\"wp-image-839625\"  \/><\/p>\n<p>Alan Wong<\/p>\n<p>Job: Current District 4 Supervisor \/ Commander in California\u2019s National Guard<\/p>\n<p>Age: 38<\/p>\n<p>Residency: Renter. Born and raised in District 4, and moved back to District 4 from Inner Sunset in October 2025<\/p>\n<p>Transportation: Driving, walking and public transit<\/p>\n<p>Education: Bachelor\u2019s degree from the University of California, San Diego; master\u2019s degree from University of San Francisco<\/p>\n<p>Languages: English, Cantonese<\/p>\n<p>I\u2019m withholding judgment as this moves through the legislative process. I don\u2019t take knee-jerk positions. I weigh practical impacts, not ideology. For too long, city legislation has been driven by an us-against-them mentality of political factions instead of what makes sense.\u00a0<\/p>\n<p>My key question is whether the legislation can be more narrowly tailored to help housing projects pencil out. It\u2019s described as revenue-neutral, relying on a ballot measure to remove transfer tax exemptions on foreclosed properties. Given the city\u2019s budget deficit, I\u2019m seeking amendments to ensure the tax reduction only takes effect if that offset is secured.\u00a0<\/p>\n<p>Endorsed by: Mayor Daniel Lurie, GrowSF, San Francisco Democratic Party, San Francisco Police Officers Association, SF YIMBY, Former Mayor Willie Brown, Sheriff Paul Miyamoto, San Francisco Firefighters Local 798, Deputy Sheriffs\u2019 Association of San Francisco \u2026 read more <a href=\"https:\/\/alanwong.com\/endorsements\/\" type=\"link\" id=\"https:\/\/alanwong.com\/endorsements\/\" rel=\"nofollow noopener\" target=\"_blank\">here<\/a>.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"640\" src=\"https:\/\/www.newsbeep.com\/us-ca\/wp-content\/uploads\/2026\/03\/Chow-Rust-640x640.png\" alt=\"Cartoon illustration of a man with short gray hair, glasses, and a suit with a tie, shown against an orange circular background.\" class=\"wp-image-839612\"  \/><\/p>\n<p>Albert Chow<\/p>\n<p>Job: Owner of Great Wall Hardware, president of People of Parkside Sunset<\/p>\n<p>Age: 59<\/p>\n<p>Residency: Homeowner, living in District 4 since 1978\u00a0<\/p>\n<p>Transportation: Driving and walking<\/p>\n<p>Education: Bachelor\u2019s degree from the University of California, Berkeley<\/p>\n<p>Languages: English, semi-fluent in Cantonese<\/p>\n<p>I do not support the BUILD Act because it cuts funding that should go towards affordable housing at a time when we need to be investing more in it, not less. That said, I do agree with the goal of getting more housing built and moving stalled projects forward.\u00a0<\/p>\n<p>We need to address the barriers that are preventing approved housing from being constructed. My focus is on solutions that increase affordable housing production, protecting funding for affordable housing, and ensuring that new development benefits working and middle-income families, not just large luxury projects.<\/p>\n<p>Endorsed by: Chinese American Democratic Club, Retired SFPD Commander Richard Corriea, Retired SFPD Commander Peter Walsh, President of United Irish Cultural Center Liam Reidy<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"640\" src=\"https:\/\/www.newsbeep.com\/us-ca\/wp-content\/uploads\/2026\/03\/Gee-Rust-640x640.png\" alt=\"Illustration of a woman with long dark hair, glasses, and earrings, wearing a black blazer and light top, shown in a circular orange background.\" class=\"wp-image-839615\" style=\"width:262px;height:auto\"  \/><\/p>\n<p>Natalie Gee<\/p>\n<p>Job: District 10 legislative aide<\/p>\n<p>Age: 40<\/p>\n<p>Residency: Renter, living in District 4 since 2021<\/p>\n<p>Transportation: Driving, walking and Muni<\/p>\n<p>Education: Bachelor\u2019s degree from San Francisco State University<\/p>\n<p>Languages: English, Cantonese<\/p>\n<p>I strongly oppose the BUILD Act, which would undo Prop. I passed by voters in 2020, and [which has] has generated over $324 million for San Francisco.<\/p>\n<p>Our city is facing a massive deficit. Cutting revenue right now is not fiscal responsibility, it is a gift to ultra-wealthy real estate interests. Meanwhile, working families are being asked to pay more to keep Muni running and brace for cuts to the services they depend on.<\/p>\n<p>That is backwards. As supervisor, I will always fight for our residents, not tax cuts for ultra-wealthy real estate interests.<\/p>\n<p>Endorsed by: California Working Families Party, San Francisco Labor Council, Former Mayor Art Agnos, Former Assemblymember Phil Ting, Assemblymember Matt Haney, Supervisor Connie Chan, Myrna Melgar, Jackie Fielder, Shamann Walton, Chyanne Chen, Former Supervisor Gordon Mar, IFPTE 21, SEIU 1021, AFT 2121, San Francisco Tenants Union \u2026 read more <a href=\"https:\/\/www.votenataliegee.com\/endorsements\" rel=\"nofollow noopener\" target=\"_blank\">here<\/a>.<\/p>\n<p>Candidates are rotated alphabetically. Answers may be lightly edited for formatting, spelling, and grammar. Do you have questions you\u2019d like to ask the candidates? Email <a href=\"https:\/\/missionlocal.org\/2026\/04\/sf-election-district-4-transfer-tax-build-act\/mailto:junyao@missionlocal.com\" rel=\"nofollow noopener\" target=\"_blank\">junyao@missionlocal.com<\/a>.<\/p>\n<p>You can register to vote <a href=\"https:\/\/www.sf.gov\/register-to-vote\" rel=\"nofollow noopener\" target=\"_blank\">here<\/a>.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Welcome to our weekly \u201cMeet the Candidates\u201d series, in which we ask local candidates who have filed to&hellip;\n","protected":false},"author":2,"featured_media":185195,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[35072,86268,101,103,102,104,106,105,18069],"class_list":{"0":"post-282705","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-san-francisco","8":"tag-election-2026","9":"tag-meet-the-candidates","10":"tag-san-francisco","11":"tag-san-francisco-headlines","12":"tag-san-francisco-news","13":"tag-sf","14":"tag-sf-headlines","15":"tag-sf-news","16":"tag-sunset"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/282705","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=282705"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/282705\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/185195"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=282705"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=282705"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=282705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}