real estate tax

The proposal would allow the City Council to increase real estate tax revenue to help fund programs to get people off the street.

Mr. Peskin said that San Francisco’s $14 billion budget is facing the prospect of a $1 billion shortfall over the next few years, in part because of lost commercial real estate tax revenue.

Among other things, Democrats proposed, and then punted on, bills to impose statewide rent restrictions, to use a real estate tax to build affordable housing, and to force more pricing transparency in the oil industry.

Jia Kang, a former finance ministry research director who still advises the ministry, said that completing the real estate registration system meant China was nonetheless making progress toward someday enacting a real estate tax.

“A real estate tax is the most suitable type of tax as a local tax, and should be piloted as soon as possible after the economy returns to normal growth,” he wrote in February.