
This Is San Francisco’s Plan to Get the 1 Percent to Pay Up - prostoalex
http://www.bloomberg.com/news/articles/2016-02-19/this-is-san-francisco-s-plan-to-get-the-1-percent-to-pay-up
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No1
> The proposed tax hikes on mansions...

They show an example of a "mansion" later in the article: a 4 bedroom, 3.5
bath house with two car garage.

Without any peg to inflation, everything will fall under the new tax in a few
decades.

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grillvogel
in a dense city that is definitely a mansion

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No1
No, it's just a 4-bedroom house. This is a mansion:

[http://sf.curbed.com/archives/2014/11/25/behind_the_hedges_a...](http://sf.curbed.com/archives/2014/11/25/behind_the_hedges_and_inside_the_history_of_danielle_steels_spreckels_mansion.php)

But my point is more that they bill this sort of thing as getting the "1
Percent to Pay Up" when it really translates to "getting the 100% to pay up
(given some time)."

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ZeroGravitas
In London I've heard the workaround for a similar tax is to set up a shell
company that owns the mansion and then sell the company, not the mansion.

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prostoalex
Tax authorities now loosely define the sale as "change of ownership". In some
other municipalities they have some ridiculously high property tax rates (e.g.
NYC's reaches 19.554% [http://www1.nyc.gov/site/finance/taxes/property-tax-
rates.pa...](http://www1.nyc.gov/site/finance/taxes/property-tax-rates.page)
), which they then exempt (e.g., Texas homestead exemption), but exemption is
only granted to natural persons, not companies, which makes the whole setup
costly.

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ndkdjdjd
And why exactly is high rents a bad thing? San Francisco has dense
concentration of some of the smartest people in the world. It's relatively
cheap for the immense value you get by living here.

If you can't keep up with the high skill workers that are moving into your
neigborhood, maybe, just maybe ask yourself: are they really the problem or is
the problem more with your inability to keep up?

It's funny how people think that just because they've lived somewhere for a
while, they're somehow entitled to decide who moves in and who doesn't.

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randycupertino
> It's relatively cheap for the immense value you get by living here.

What value? For a mediocre, provincial city with terrible public transit, crap
nightlife, gross streets and a homeless problem? SF isn't that great for the
$$...

