BOMA | Building Owners and Managers Association of San Francisco
Advocate: An Update on Legislative, Regulatory, and Political Issues Affecting Commercial Real Estate
January 19, 2011
Volume 17, Issue 1
San Francisco City Hall News
UPDATE: Effective Dates for Local Ballot Propositions That Passed in the November 2010 General Election - Transfer Tax Ordinance
On December 7, 2010, the San Francisco Board of Supervisors certified the voter approved Proposition N (please click here for our blog posts on this issue), which took effect on December 17, 2010.  In short, Prop. N amends the San Francisco Transfer Tax Ordinance as follows:
  • The transfer tax rate is increased from 1.5% to 2% when the “consideration for” or “value of the transfer” is $5 million or more, but less than $10 million.
  • The transfer tax rate is increased from 1.5% to 2.5% when the “consideration for” or “value of the  transfer” is $10 million or more.
  • The increased transfer tax rates also apply to leasehold interests having a remaining term (including renewal options) of equal or greater than 35 years. 

EFFECTIVE TAX RATES                                 

If entire value or consideration; tax rate for entire value or consideration is:

  • More than $100 but less than or equal to $250,000
    • $2.50 for each $500 or portion thereof;
  • More than $250,000 but less than  $1,000,000
    • $3.40 for each $500 or portion thereof;
  • $1,000,000  or more but less than $5,000,000
    • $3.75 for each $500 or portion thereof; 
  • $5,000,000  or more but less than $10,000,000
    • $10.00 for each $500 or portion thereof;
  • $10,000,000  or more
    • $12.50 for each $500 or portion thereof.

If you have any questions, please contact Phil Ting, Assessor-Recorder for the City and County of San Francisco by clicking here.


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In This Issue
BOMA San Francisco Op-Ed in the San Francisco Examiner
•  A Century in the Making of an Iconic Skyline
Energy & Environment News
•  BOMA San Francisco's 2011 EARTH Award Workshop
BOMA San Francisco News
•  San Francisco Mayoral Candidate Joanna Rees Speaks at BOMA San Francisco's Government Affairs Committee
San Francisco City Hall News
•  UPDATE: San Francisco Fire Department's 30 Day Posting for New Proposed Administrative Bulletins
•  UPDATE: Effective Dates for Local Ballot Propositions That Passed in the November 2010 General Election - Transfer Tax Ordinance
•  SFDBI January and February Brown Bag Lunch Talks - Amendments to 2010 California Building Code and Updated San Francisco Green Building Requirements
•  SFDBI 2011 Disabled Access Valuation Threshold
•  UPDATE: SFDPH Secondhand Smoke Prevention and Enforcement Program
BOMA California News
•  BOMA California Board Of Directors Set Direction for 2011
BOMA International News
•  New Look Congress Convenes
Save The Date!
•  San Franciscoís Small Businesses Welcome Our New Supervisors
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