San Francisco Pivots to 3-to-6 Percent Commercial Foreclosure Tax, Eyeing $67MM a Year After Shelving BUILD Act

Days after pausing a sweeping transfer-tax cut for high-value property sales, San Francisco Mayor Daniel Lurie and Supervisor Bilal Mahmood are advancing a separate measure to tax commercial foreclosures, closing a four-decade-old loophole that has let distressed deals escape the city's transfer tax entirely. Mayor Daniel Lurie and Supervisor Bilal Mahmood introduced a commercial foreclosure […]