Tell City Hall: Support SF’s Economic Recovery and pass the BUILD Act.
San Francisco is at a turning point.
Mayor Daniel Lurie and District 5 Supervisor Bilal Mahmood have introduced Ordinance #260178 (the BUILD Act) to reduce the City’s Real Estate Transfer Tax, a critical step toward jumpstarting housing production and accelerating San Francisco’s economic recovery.
Right now, SF has some of the highest transfer tax rates in the country, up to 5.5%-6%, on large transactions. These excessive rates are holding our city back, making it harder for housing and development projects to move forward.
The result? Tens of thousands of approved housing units, and the jobs that come with them, are stalled because projects simply don’t pencil.
This legislation is about fixing that. Reducing the transfer tax will:
- Make housing projects financially viable again - reducing the tax could reduce construction costs by $32,000/housing unit.
- Unlock thousands of approved but unbuilt homes.
- Bring investment, jobs, and economic activity back to San Francisco.
The BUILD Act is a smart, targeted reform that will help get San Francisco building again and strengthen our city’s economic comeback.
Use the form below to tell our elected leaders to support the BUILD Act and back San Francisco’s economic recovery.