“Sixty Spear St...has been sold [at] about a 66% discount versus the most recent assessed property value of $121 million”
Assessed...lots of appeals coming soon. There goes SF’s property tax base.
You can downgrade everything within a mile by 30 to 50 percent. On property tax...it’s a bad sign where the city is going.
I would imagine within three years...mayor of SF will have to ask for a billion dollars to get them over some ‘hump’, and that will merely lead to some federal request next.
Just raise the property taxes on those that continue to stick around. Problem solved!