The Truthiness Report
Brass Tax: Propositions N and Q Levy Businesses, Property
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By Tim Kingston
The Truthiness Report: No. 6 in a series on election advertising. Propositions N and Q, which would increase and modify San Francisco’s property transfer and payroll expense taxes, were the product of intense negotiations between different business groups. Not surprisingly, the winners and losers in those negotiations define the pro and con election advertisements. The laws are simple enough: N would increase the property transfer tax from 0.75 to 1.5 percent on properties worth over $5 million, while Q ensures that partners in law firms have to pay payroll taxes.