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Board adopts consolidated 2010–11 budget, advances transfer tax to November ballot; business and parking tax measures tabled
Summary
The Board of Supervisors approved the City’s consolidated budget for fiscal year 2010–11 and sent a proposal to increase the real property transfer tax to the November 2010 ballot. Two other proposed revenue measures — a payroll/gross-receipts business tax reform and a parking tax increase — were tabled for further work.
The San Francisco Board of Supervisors approved a consolidated budget and salary ordinances for the City and County of San Francisco for the fiscal year ending June 30, 2011, following a roll-call vote on the second reading of the budget ordinances.
The action came after supervisors spent several hours debating a package of potential revenue measures to address a multi‑hundred‑million‑dollar structural shortfall. Supervisor John Avalos presented a proposal to raise the real property transfer tax on high‑value transactions, saying the measure would target very large real‑estate sales without affecting most homeowners. “This increase is not affecting everyday San Franciscans who own single family homes,” Avalos said.
Why it matters: The city has faced repeated multiyear deficits and deep cuts to services and staffing. Supervisors said revenue…
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