Overview
- The measure would charge $8,000 in 2027 and $10,000 starting in 2028, with a corporate-owned surcharge of $4,000 in 2027 and $5,000 from 2028 onward.
- It applies only to second homes left vacant more than half the year and excludes primary residences as well as short- and long‑term rentals, with exemptions for hardship, military service, disaster damage, probate, and long‑term care.
- City staff estimate roughly 5,140 vacant homes could be subject to the tax, and the Independent Budget Analyst projects first‑year revenue of about $9.2 million to $21.4 million depending on exemptions and compliance.
- Legal risk remains a key concern, with a pending San Francisco appeal cited by opponents and Councilmember Raul Campillo casting the lone no vote over the absence of a more robust legal memo.
- If voters approve, the ordinance would take effect Jan. 1, 2027, with first bills sent Jan. 1, 2028 and initial payments due in April 2028.