There are currently 40,000 vacant homes in the city of San Francisco. Meanwhile, there are 8,000 unhoused residents. Prop M would tax property owners who own a building with at least three empty residential units that are empty for 182 days a tax year.
The tax on these empty homes would go towards the Housing Activation Fund, which helps fund programs which give rent subsidies to older adults 60+ and low-income residents and help obtain, restore, and maintain vacant buildings for affordable housing.
Our city’s housing crisis is a policy choice and if Prop M passes, we would be one step closer to ensuring all San Franciscans have a place to live. SF Rising Fund urges voters to vote YES on Prop M.