Overview
- The San Francisco Controller’s Office published a draft analysis Wednesday that models the effects of a roughly $307 million annual shortfall for the Municipal Transportation Agency.
- Muni warns that without new funding it could eliminate 19 bus lines and a streetcar route and cut service frequency, which the report says would make transit less reliable and slower for riders.
- The controller’s models estimate more than 15,000 weekday hours of added trip delays, an 8% drop in jobs reachable within a 45-minute transit commute, and up to a 0.9% fall in average city home prices.
- Proposition H, a parcel tax on the Nov. 3 ballot that Mayor Daniel Lurie now supports, would charge homeowners about $129 a year for single-family units with higher rates for multiunit and commercial parcels and is projected to raise roughly $184 million annually.
- The report finds that the parcel tax would have a much smaller negative effect on residential property values and could generate about $400 million in economic growth and roughly 1,400 new jobs over 15 years, while a separate regional transit sales tax was not evaluated and could change outcomes.