Marisa Lagos – SF Chronicle Writer
Supervisor John Avalos
David Chiu – Board President
Chamber of Commerce President Steve Falk
Supervisor Sean Elsbernd
Subject: S.F. looking at tax proposals for ballot article by SF Chronicle Writer Marisa Lagos
Parcel tax, vehicle fee are among proposals. ‘Parcel tax and sales tax would eventually expire’. This means they are not a structural long-term increase in revenue.
Does it make sense to analyze capital gain of 15% Federal and 9.3% state when selling homes that have appreciated more than the current $250,000 per person exemption? Despite the very severe downturn in the home real estate market, there are 3 million homes in the state owned by people over 60. How many have appreciated more than the $250,000 exemption established in 1998 is unknown.
Check out our Aug. 30th, 2008 piece originally published in the Mercury News which is attached. Our blog is https://jameshall.wordpress.com/. Capital gain over 24% is definitely locking seniors in their homes that pay low property taxes that could be replaced by a current taxpayer.
We have submitted proposed legislation through senior Senator Anne Mack. Hopefully, one federal and state legislator will pick up on it. http://www.4csl.org/