California's billionaire tax has enough signatures to reach the ballot, but it can still be withdrawn until 5 p.m. on June 25 as backers negotiate a 2% compromise with Gov. Gavin Newsom; the LAO says the original 5% plan could raise tens of billions while risking future income-tax losses if wealthy residents leave.

Lurie and Mahmood paused their plan to cut the transfer tax on new buildings. In its place, they want to tax foreclosure sales instead.

The Stronger Muni for All measure qualified for San Francisco’s November ballot. It would raise about $160 million a year for Muni through a 15-year parcel tax starting in 2027; most single-family homes would pay $129 annually, apartment buildings and commercial properties would pay more based on size, and some rent-controlled tenants could see up to $65 a year passed through.

Prop D would sharply increase San Francisco’s gross receipts tax on some large companies. GrowSF recommends no, arguing the measure would likely raise consumer prices on groceries, household basics, and other everyday purchases.

City Hall needs more flexible revenue and to stimulate building development, but some want to keep tax rates high and locked to a single purpose.