San Francisco BUILD Act Targets Transfer Tax Cuts
What Does the San Francisco BUILD Act Do? At its core, the San Francisco BUILD Act is a legislative package designed to restart stalled housing and commercial development. It does this by cutting transfer taxes on certain large real estate transactions while keeping existing rates in place for single residences and deals under $10 million. City leaders present it as an economic and jobs stimulus aimed at housing production, union employment, and downtown recovery. The measure is intended to restore a more development-friendly tax structure after earlier changes raised costs for major projects. Supporters argue the policy could improve housing financing by lowering per-unit costs and helping entitled projects become financially viable. Officials have cited savings of roughly $32,850 per unit, which allied housing groups describe as about 5 percent of project costs. The package is also framed as helping projects move forward despite difficult capital markets and long permit timelines. Re...
