Posted on 09/06/2023 5:16:17 AM PDT by CFW
And there was a collective gulp heard ’round City Hall.
I wouldn’t be surprised to find some of London Breed’s administrators forced into a life of crime to keep the street lights on…just kidding, just kidding. But “I don’t think we’ve reached the bottom yet” is all that encouraging, no?
How bad was it? Well, now that they’ve toted everything up for last year, it’s looking grim.
"The city’s transfer tax revenue—which is directly tied to the sale of buildings—has fallen off a cliff due to far fewer commercial properties trading hands. Home sales in San Francisco, which provide a smaller portion of transfer tax revenue, have also dropped from their 2021 peak.
In the last fiscal year, San Francisco pulled in $186 million in transfer tax revenue—the lowest number in more than a decade, according to Ted Egan, the city’s chief economist."
(Excerpt) Read more at hotair.com ...
Time to tax all the billionaire’s living in SF and teach them a lesson.
[As predicted: San Francisco real estate tax collections nosedive]
Excellent.
I love happy news.
Keep voting Democrat! It’s working!
tax the squatters! oh...wait. sorry.
The solution is both socialist and simple. Increase the tax rate to make up the shortfall.
9/15 is the big tax day coming up
The solution is to tax tent dwellers on a per square foot basis for occupied public lands
There is only one answer and one solution..
Those greedy corps and rich people are not paying their fair share.
They just need to raise taxes, Moar!
No prob - they will hit up newsome for extra cash and he will hit up biden.
That’s a big cut, even at 10%, for the big guy.
Serious question..
It appears that at least SOME degree of Branch Covid-ian bachanalia celebrations are coming down.
IF that happens, and SF, Being SF and Ca. start instituting, mask mandates, social distancing, shutting down indoor dining, closing beaches, museums etc. vaccine passports...
As a go to tourist destination.. Bringing all of this back could be the final nail in their coffin.
That goes for any/ all Tourist Cities..SF, LA, NY, Bos, Disney, Etc..
Will THEY fight to stop the covid roll outs?
China’s watching. Buy it cheap.
Perhaps San Francisco needs a new law:
Fellow, I have to double the price on the cigarettes and alcoholic beverages unless you pay by credit card with photo ID.
mor-ons
“That goes for any/ all Tourist Cities..SF, LA, NY, Bos, Disney, Etc..”
Victory, at all costs to others!
‘THEY’ will be branded ‘domestic terrorists’ and dealt with accordinly.
Kill the chicken to scare the monkey- Chinese proverb
The answer is obvious to the oblivious. Just tax the remaining people more to make up for the difference.
“they will hit up newsome for extra cash and he will hit up biden”
Kevin McCarthy, some pro-baby murder states want a bail out.
Doom loop. I’m sure the SF commie supervisors will ask for a bailout.
This is just one stream of revenue.
Sales taxes have to lower since fewer stores in city and fewer people going to SF to buy anything.
Hotel occupancy tax have to be lower (see above).
Socialist do not understand how economies work.
So the stream of money into the treasury is going down while fixed cost remain the same or are going up. I wonder when San Francisco will be bankrupt?
It is really just bad luck. Nobody could possibly have seen this coming. What in the world could be causing all these problems?
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