Prop I is a citizen initiative about where the city's biggest property sale taxes go. It does not change how much buyers and sellers pay in total.

What it does

Today, sales of $10 million or more pay a transfer tax of 5.5%, or 6% above $25 million, and all of it goes into the General Fund, according to the League of Women Voters of San Francisco. Prop I would split that tax in half. One half would stay in the General Fund. The other, called the House SF Tax, would go into a new House SF Fund.

The League said the fund would spend:

  • At least 60% on building affordable housing, including social housing
  • At least 25% on buying or fixing affordable housing
  • At least 10% on eviction prevention and emergency rent help
  • Up to 5% on administration

GrowSF said first sales of new multifamily buildings, within five years of construction, would pay half of today's rate. The measure would also limit the supervisors' power to change the tax without a vote, SPUR said.

Budget impact

SPUR cited the controller's estimate that $114 million a year would move from the General Fund to the new fund starting in 2026-27, rising above $124 million by 2030. GrowSF cited a controller estimate of $120 million a year. GrowSF said it would be the city's 24th voter-mandated spending requirement.

Who is for and against

Supporters include the SF Tenants Union, SEIU 1021, the Affordable Housing Alliance and Democratic Socialists SF, the League said. They say voters approved the 2020 tax increase expecting it to fund housing. Opponents, including the SF Taxpayers Association and the SF Building and Construction Trades Council, say it would squeeze other services. SPUR said it could do more harm than good with the city facing deficits. The League said Prop I would win if any part conflicts with Prop J.

Read about the campaign money on Prop I and Prop J.

More on the San Francisco ballot: where and how to vote in SF, when SF results come out and Props D, E and F compared.

How to vote

Election Day is Tuesday, Nov. 3. Polls and vote centers close at 8 p.m., and mailed ballots must be postmarked by Election Day and arrive within seven days. You can check your registration and ballot status at sos.ca.gov/elections. California lets you register and vote the same day at a vote center.