Proposition M — Tax on Keeping Residential Units Vacant

Designed to combat San Francisco’s long-standing housing shortage, an empty homes tax on the November ballot, Proposition M, would apply to multi-unit residential buildings with prolonged vacancies. Voters will decide the fate of the measure that has garnered support and criticism for its exemptions and low tax amount.

A view looking up toward both low and high-rise resdential buildings in San Francisco's South of Market neighborhood.

Would Tax on Vacant Homes Be Enough to Push Owners to Lease Empty SF Units?

Designed to combat San Francisco’s long-standing housing shortage, an empty homes tax on the November ballot, Proposition M, would apply to multi-unit residential buildings with prolonged vacancies. Voters will decide the fate of the measure that has garnered support and criticism for its exemptions and low tax amount.   

While revenue from the empty homes tax would go toward rent subsidies and affordable housing, its architect, Supervisor Dean Preston, stressed that its primary purpose is returning vacant units to the market. 

Homes in San Francisco's Bayview-Hunters Point neighborhood are seen against a background of skyscrapers in the city's financial district.

Tens of Thousands Vulnerable to Eviction as California Protections Poised to End

Roughly two years, multiple eviction moratoriums and over $3.6 billion in rent-relief payments after tenant advocates began worrying COVID-19 hardships would push thousands of renters out of their homes in San Francisco and elsewhere, California policy interventions aimed at preventing evictions are poised to end.

Barring an eleventh-hour postponement by lawmakers (not out of the question, given three previous last-minute extensions), California’s eviction protections expire June 30. Among those vulnerable to being forced from their homes are more than 135,000 tenants whose applications for rent relief have been denied, and thousands more whose applications may be denied in the future or not processed by the time protections are lifted.