Tuesday, July 27, 2010

UPDATE: November 2010 Tax Proposals - Commercial Rent Tax and Parking Tax Increase Tabled - Real Estate Transfer Tax Advances

BOMA San Francisco Members:

UPDATE - As of July 27, 2010

The Board of Supervisors have tabled two of the three tax measures that were intended for the November 2010 ballot: the Commercial Rent Tax and Parking Tax increase.  The Board did approve the Real Estate Transfer Tax increase by a vote of 10-1.

While this is not a full defeat of all tax measures for the November ballot, we appreciate the efforts of BOMA San Francisco members' calls and emails to the members of the Board of Supervisors urging them to reconsider placing ANY new tax measures on the economically depressed business community.

BOMA San Francisco and the greater business community remains steadfast our effort to oppose any new revenue measures via Economic Recovery SF.  As we’ve been reporting, new or increased taxes would place yet another economic burden upon the thousands of small business, stunt job growth and delay economic recovery.

Click here to visit the Economic Recovery SF website to review what we are doing to stave off new tax measures.  The Real Property Transfer Tax, now on the November ballot, directly affects our industry and our clients.

UPDATE - As of July 20, 2010

The Board of Supervisors was scheduled to discuss all three tax measures today, July 20, 2010, but have voted unanimously to continue the final debate--and vote--until their next meeting on July 27, 2010, 2:00 p.m., Room 250. 

UPDATE - As of July 15, 2010

Please find links to recently amended versions of the aforementioned tax proposals, below, that will be considered by the San Francisco Board of Supervisors on Tuesday, July 20, 2010:
We welcome your feedback on these tax measures.  Please email Ken Cleaveland, BOMA San Francisco's Director of Government Affairs at kenc@boma.com, and John Bozeman, BOMA San Francisco's Legislative Assistant at johnb@boma.com with any comments you may have.


Original post on June 8, 2010:

On June 8, 2010, members of the Board of Supervisors introduced three tax proposals that have a high probability of being placed on the November 2, 2010 ballot in some form:
  • Commercial Rent Tax (Supervisor David Chiu)
    • Click here to review the proposal.
    • This ordinance closely parallels the first of two alternatives to the current payroll tax as suggested by the Controller's final report on this topic.  Click here to read the final report and for more detailed coverage of the commercial rent tax issue.
  • Real Estate Transfer Tax Increase (Supervisor John Avalos)
    • Click here to review the proposal.
  • Parking Tax Increase (Supervisor Ross Mirkarimi)
    • Click here to review the proposal.

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