San Francisco Proposition J — Removal of Foreclosure Exemption for Real Property Transfer Tax

What it does

Shall the City permanently apply a transfer tax of between 0.5% and 6% of a property’s fair market value, on the transfer of properties such as commercial, industrial, and large residential properties, that are transferred to a lender because of foreclosure or to avoid foreclosure, for estimated annual revenue of $100 million to $150 million?

A YES vote means

San Francisco would permanently apply a transfer tax of 0.5% to 6% of fair market value when commercial, industrial and large residential properties are transferred to a lender due to or to avoid foreclosure, raising about $100 million to $150 million a year.

A NO vote means

Those foreclosure-related transfers would keep their exemption from San Francisco's transfer tax.

Needed to pass

A simple majority: more than half of the YES and NO votes on this measure must be YES. Leaving it blank doesn't count either way.

Left–right lean

Unclear: our AI read of the official summary isn't confident enough (we require 70%) to place this on the left–right spectrum, so we don't. Read the summary and decide for yourself.

The YES and NO lines are SpectrumVote's plain-language reading of the official text above; the official text is what you vote on.

Official text: source

Only on your ballot if you live in the City and County of San Francisco.

Background

According to the Ballot Simplification Council's digest, when a lender takes a property through foreclosure or in lieu of foreclosure, it currently pays transfer tax only on the difference between the sale price and what is still owed to it.

Starting March 1, 2027, Proposition J would tax such transfers of commercial, industrial, and large residential properties on their full market value, while keeping the break for single-family homes, buildings with fewer than five units, and certain small mixed-use properties.

City Controller Greg Wagner's statement estimates an average of $100 million to $150 million a year over the first five years, but says revenue would be unpredictable, highest in the near term, and likely to decline significantly over time.

The Board of Supervisors voted 10 to 0, with Supervisor Walton excused, on July 28, 2026 to place it on the ballot.

Put on the ballot by San Francisco Board of Supervisors, 10–0 (Walton excused), July 28, 2026.

From official source.

Next elections here

• 2028 presidential election · Who has filed so far, from FEC filings

Also on San Francisco County ballots

• San Francisco Proposition A — Charter Changes Affecting Various City Departments and Commissions
• San Francisco Proposition B — Establishing a Municipal Finance Corporation and a Public Bank
• San Francisco Proposition C — Contributions to the Housing Trust Fund
• San Francisco Proposition D — Changes to Ballot Measure Process
• San Francisco Proposition E — City Administrator’s Authority and Changes to City Contracting
• San Francisco Proposition F — Changes to Executive Branch Management
• San Francisco Proposition G — Allowing Private Vehicles on the Upper Great Highway in Sunset Dunes Park
• San Francisco Proposition H — Parcel Tax to Fund Muni Operations
• San Francisco Proposition I — Changes to Real Property Transfer Tax

All San Francisco County races and measures →

Quick answers

What does a YES vote on San Francisco Proposition J mean?

San Francisco would permanently apply a transfer tax of 0.5% to 6% of fair market value when commercial, industrial and large residential properties are transferred to a lender due to or to avoid foreclosure, raising about $100 million to $150 million a year.

What does a NO vote on San Francisco Proposition J mean?

Those foreclosure-related transfers would keep their exemption from San Francisco's transfer tax.

How many votes does San Francisco Proposition J need to pass?

A simple majority: more than half of the YES and NO votes on this measure must be YES. Leaving it blank doesn't count either way.

Should I vote yes or no on San Francisco Proposition J?

SpectrumVote doesn't endorse anyone or tell you how to vote. Read what a YES and a NO vote each do, and the official text, then decide based on what you want to happen.

When is the vote?

The general election was Tuesday, November 3, 2026. Counts are unofficial until each state certifies its results over the following weeks; your state or county election office has the official results.