San Francisco's November ballot carries two separate measures property owners need to model - likely including the pharmacy-vacancy tax measure from Issue 5 and the foreclosure-transfer taxability measure (effective March 1, 2027) also from Issue 5. Running both scenarios, not just one, is the operative advice. A property owner who models only the pharmacy-vacancy tax exposure and ignores the foreclosure-transfer taxability measure - or vice versa - is undercounting the combined cost of a ballot that puts two separate property-tax mechanisms before voters on the same day.

Source: Issue 5 and Issue 6 MB platcards.