Dear All;
Attached and below are two proposed tax initiatives for San Francisco for discussion purposes for this Saturdays Nov.14 LPSF meeting. They were written for tax relief new first time buyers and license and permit fees relief for new business owners. They are kept simple by design. They are for discussion purposes and are not carved in granite.
Ron Getty - Chair Initiatives Committee
Hostis Res Publica
Morte Ai Tiranni
Dum Spiro, Pugno
Tax Relief for First-Time Home Buyers
In the interest of fostering a family friendly environment in San Francisco we do hereby ordain
the following. All first-time home buyers in San Francisco will be exempted from all property and parcel taxes for a period of 5 years
from the date of purchase of their home.
The tax assessor will calculate the amount of reduced tax
revenue. This amount will then be shared equally in all major San Francisco City and
County departments with an appropriate reduction in their budgets. No
additional revenue sources will be authorized to “make good” the amount of
property tax reduction.
Tax
Relief for Small Business Owners
In the interest of fostering private employment in San Francisco we do hereby ordain the following. All new start-up
businesses will be exempted from paying any license or business permit fees for
a period of 5 years from start up. The start up date will be based on the date
of application for a City business license. This will equally apply to any
existing business opening a branch operation in the City of San Francisco.
To lighten the economic burden during these economic times existing
businesses with payroll taxes of less than $500,000 will be exempted from paying
any annual license or permit fees for a period of 5 years from the date of
enactment of the ordinance.
To further foster employment opportunities all mandatory
benefit and payroll tax requirements will be waived for a period of 5 years
from the date of opening the new business or branch operation
The total aggregate amount of reduced revenue will be shared
equally by all major City and County departments with an appropriate reduction
in the budgets. No additional revenue sources will be authorized to “make good”
the amount of business license and permit fees.