Proponents and opponents of this November’s Proposition G have held rallies regarding the proposed law that would impose high taxes on certain housing transactions in the city.
The tax, which would range from 24 percent to 14 percent, depending on how long the property was held, seeks to impose a high price on so-called property “flippers,” people who buy properties, usually upgrade them, and then resell them at a profit.
In August, supporters of the tax protested outside an apartment building where a family was evicted under the controversial Ellis Act. Elsewhere in the city this summer, small property owners rallied at City Hall to protest the proposition as well as the assumption that they were heartless “speculators.”
