District 4 Supervisor Candidates Divided Over San Francisco’s Proposed Real Estate Transfer Tax Cut

April 24, 2026 - 08:30

San Francisco’s contentious debate over the real estate transfer tax has become a defining issue in the District 4 supervisor race, with nearly all candidates opposing a proposed reduction that Mayor Daniel Lurie argues will spur housing development.

The measure in question, dubbed the BUILD Act, aims to lower the city’s steep transfer tax on commercial and residential property sales. Mayor Lurie has championed the policy as a necessary tool to unlock stalled construction projects, attract investment, and address the city’s chronic housing shortage. “This tax cut will directly incentivize developers to build more homes and office space,” Lurie stated in a recent public address, emphasizing that current rates discourage large-scale projects.

However, the proposal has met fierce resistance from District 4 candidates. All but one of the contenders in the race have publicly voiced opposition, citing concerns over lost revenue for essential city services. Critics argue that reducing the transfer tax—which generated over $300 million for San Francisco last year—could deepen budget deficits and undermine funding for homelessness programs, public schools, and infrastructure repairs.

“We cannot afford to give away millions in tax revenue when our streets are dirty and our libraries are underfunded,” said one candidate, who requested anonymity due to campaign sensitivities. Another contender warned that the cut would primarily benefit wealthy investors and large corporations, not the everyday residents of District 4.

The lone supporter among the candidates defended the measure as a pragmatic step to revive a sluggish real estate market, noting that high transaction costs have driven developers to neighboring cities. As the race heats up, voters in District 4 will weigh the promise of new housing against the risk of slimmer municipal budgets. The outcome could set a precedent for tax policy debates across San Francisco.