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> In response to the city’s struggling downtown, Breed said she plans to introduce legislation that would modify the city’s tax structure to make San Francisco
by remarkEon 4y ago
> In response to the city’s struggling downtown, Breed said she plans to introduce legislation that would modify the city’s tax structure to make San Francisco businesses more competitive. The plan would include pauses in tax increases for existing businesses,and three-year tax breaks for companies looking to open in the area.
Gonna go out on a limb here and speculate that taxes are not the problem.
- m0llusk 4y agoThere are multiple factors. During the boom years San Francisco cranked up tax burdens and muddied the waters with lots of special cases. Clearing up that mess will almost certainly help. It won't address the problem directly, but it will remove a complication and assist with any other changes that are made.
- jmeister 4y agoThey can be a solution though. Low taxes can incentivize business to overlook the other problems that may take longer to solve.
- galleywest200 4y agoWhich would lead to a decrease in income that the city could use to address these longer term problems.
- tonfreed 4y agoYou're not going to get taxes anyway if there are no taxpayers in the city. You could raise taxes to 100% and I guarantee your tax revenue would completely collapse too
- sokoloff 4y agoThat depends on what the alternative is. If it’s that all the current businesses say “Whelp; we can’t do anything. Let’s just stay here…” and all the same other businesses say “Considering everything, San Francisco is the best place to open up; let’s do it!”, then yes this plan would yield lower city tax revenues. If another scenario is true that some businesses would be retained and others attracted who would otherwise end up somewhere else, city revenues could even be increased over time by this plan as compared to the baseline.