Want to create an interactive transcript for this episode?
Podcast: News For Reasonable People
Episode: San Francisco's Progressive Property Tax 'House of Horrors'
Description: San Francisco's progressive policies have created a real estate apocalypse that's absolutely mind-blowing. A 15-story office building that sold for $62 million in 2016 just went for $6.5 million – that's a jaw-dropping 90% discount! We're diving into the House of Horrors that is SF's property tax crisis, where massive office vacancies, rampant homelessness in the Tenderloin, and work-from-home policies have created the perfect storm. The city is drowning in 7,500 property tax appeals (up from 2,800), and here's the kicker – if they can't process them within two years, they automatically lose and must accept whatever reduction taxpayers demand. Some are literally claiming zero value! With a po...