SF: Prop N – Changing Real Property Transfer Tax Rates
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?
I am going to vote yes for Proposition N. The proposition encourages residents to look towards tapping into solar energy to save on their electricity bills and create a safe environment against earthquakes. The City can also make some money off the increase in transfer tax to cover its budget deficit.