Several San Francisco supervisors are pushing for Proposition J in the November election, a measure that would get rid of a transfer tax exemption for large properties that change hands through foreclosure.
When a property in San Francisco is transferred from one person or entity to another, the city charges a property transfer tax ranging from 0.5% to 6% of the property’s value. But properties that are taken by a lender through foreclosure are exempt from the tax.
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