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Press clips : Video Clips
1) HUD Homeownership subsidy
2) FNMA Zero-down loans
3) Vouchers Enable Low-Income HomeOwnership
4) Home Ownership: Pipe Dream or a New Reality
5) Daly Plan Pitifully Inadequate
6) May 16 HomeOwnership Debate in San Francisco
7) NAACP Minority HomeOwnership Program
8) Ellis/OMI/Costa Hawkins protections
9)Policy Hurts Immigrants
10)Home Ownership Causes HH Wealth
11)Class War and the Poverty Trap
12) Home Ownership Program for Equity

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Affordable HomeOwnership Alliance
             
HomeOwnership for Tenants          
Incremental Tax Revenue Estimates for Supplemental Rental/Mortgage Subsidies
Additional Taxes collected by SFCity Year # units affected Tax Rate % Average Base Price for Taxes Annual Incremental Tax $ # Needy/Elderly/Disabled Subsidized at $ 400/mo
transfer tax year 1 10,000 0.0125 250,000 31,250,000  
resale transfer tax year 1 2,000 0.0125 250,000 6,250,000  
incremental prop tax year 1 10,000 0.0115 125,000 14,375,000  
Total year 1         51,875,000 10,807
transfer tax year 2 10,000 0.0125 262,500 32,812,500  
resale transfer tax year 2 4,000 0.0125 262,500 13,125,000  
incremental prop tax year 2 20,000 0.0115 131,250 30,187,500  
Total year 2         76,125,000 15,859
transfer tax year 3 10,000 0.0125 275,625 34,453,125  
resale transfer tax year 3 6,000 0.0125 275,625 20,671,875  
incremental prop tax year 3 30,000 0.0115 137,813 47,545,313  
Total year 3         102,670,313 21,390
transfer tax year 4 10,000 0.0125 289,406 36,175,781  
resale transfer tax year 4 8,000 0.0125 289,406 28,940,625  
incremental prop tax year 4 40,000 0.0115 144,703 66,563,438  
Total year 4         131,679,844 27,433
transfer tax year 5 10,000 0.0125 303,877 37,984,570  
resale transfer tax year 5 10,000 0.0125 303,877 37,984,570  
incremental prop tax year 5 50,000 0.0115 151,938 87,364,350  
Total year 5         163,333,652 34,028
transfer tax year 6 10,000 0.0125 319,071 39,883,856  
resale transfer tax year 6 12,000 0.0125 319,071 47,860,628  
incremental prop tax year 6 60,000 0.0115 159,535 110,079,443  
Total year 6         197,823,927 41,213
transfer tax year 7 10,000 0.0125 335,024 41,878,049  
resale transfer tax year 7 14,000 0.0125 335,024 58,629,269  
incremental prop tax year 7 70,000 0.0115 167,512 134,847,318  
Total year 7         235,354,636 49,032
             
Note: Over a 7 year period, $ 960 million incremental taxes will be collected. Amounts increase annually.            
             
Assumptions:           
a) 10,000 units are subdivided every year       
b) 20% of the incremental units are resold every year     
c) prices of property increase by 5% per year       
d) the incremental property tax is collected on only half the value of the unit 
e) the initial average price for units bought by tenants is $ 250,000   
f) the average amount of rental / mortgage subsidy provided is $ 400/month 
             
The Affordable HomeOwnership Alliance is a non-partisan group committed to creative and practical win-win solutions for San Francisco’s housing problems.
             
Finally, a solution – HOT!
http://www.affordable-homeownership.org        E-mail us on Condos4Tenants@aol.com 
 


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