If passed, Proposition G would impose a tax of up to 24% on the total sale price of homes with 2 or more units and single-family homes with in-law units sold within 5 years of ownership. With the median home sale price in San Francisco over $1 million, homeowners may face up to $240,000 in taxes if they choose to sell their home. This tax will scare away middle-class homebuyers, drive up prices for new renters and tenants, and damage the housing market as a whole.
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