Message from the City Controller:
According to a chart I put together, the City expects to only lose about $9M (~1%) in General Fund Revenue from loss of property taxes.
This, despite the fact that SF housing prices have slipped 31% in the last year. I guess they expect that no one will move or be foreclosed on.
Maybe we should tighten our budgets a bit more…
Update (As of 6:57pm PST):
I should add that the SF Board of Sups canceled their “Budget & Finance Committee” meeting today owing to lack of things to talk about. It’s within the rules, of course, but…
