hotair.com By John Sexton
I’ve written many times about the deep hole that San Francisco’s public transit system is in. The system never recovered from the pandemic but for a few years it relied on government pandemic money to keep it going. By 2023, that money was starting to run out and services had to be cut. But by the start of this year, further shortfalls meant that additional service cuts would be necessary if something didn’t change.
San Francisco’s mayor, Daniel Lurie, has been working on a plan to plug an expected $300 million shortfall next year and now that plan is being revealed. It’s basically a new tax on parcels, meaning anyone who owns property will be hit up for more money.
Aiming to raise about $187 million annually to prevent drastic cuts to the city’s bus and rail system, the tax is set to go before voters in November 2026. It would help patch a $307 million annual budget deficit that could grow to $434 million in five years, all but surely sending Muni into a death spiral if the public fails to provide some form of economic life raft.
After months of deliberation and round tables, policymakers in Mayor Daniel Lurie’s office agreed on a “progressive” tax composition that would link the rate to the square footage and nature of a property. The philosophy, at heart, is to spare middle-class households and small businesses, while asking more of major employers and owners of sprawling real estate…
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