3 ms·

Sf budget is about to get crushed.

• local_crmdgeon 3y ago
  Good. SF is able to paper over it's structural problems with money. That's a waste of time and money. Fix the core issues - money can't.
• dragonwriter 3y ago
  The good thing about Prop 13 in cases like this is most real property (including most commercial real property) is taxed at a basis value so far below its actually fair market value that even a sale realizing a sizable loss from its former paper value is often only a small hit to the tax rolls (and can actually be a boon, resetting the tax basis above what it was, given the limited increases without a change in ownership.)