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Committee backs extending and broadening transfer‑tax exemption for rent‑restricted affordable housing
Summary
The committee voted to forward an ordinance extending the affordable‑housing transfer‑tax exemption retroactively to Jan. 1, 2017, through Dec. 31, 2030, expanding eligibility and waiving penalties and interest for qualifying transfers; BLA estimates $30–45M in reduced general‑fund revenue 2017–2030.
The Budget and Finance Committee on Nov. 15 forwarded to the full Board of Supervisors an ordinance that would broaden and extend San Francisco’s transfer‑tax exemption for rent‑restricted affordable housing and waive related penalties and interest retroactively.
Supervisor Dean Preston, the ordinance sponsor, said the measure would extend an existing exemption through Dec. 31, 2030, apply it retroactively to Jan. 1, 2017, expand the definition to include properties…
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