Today, I want to give you a little information about San Francisco’s new residential parking tax. This is a tax on apartment building owners who rent out parking spaces to non-building residents. So, if you have an apartment building and everyone who has a parking space lives in your building, this will not affect you. However, if you rent out parking to someone who does not live in your building, you are subject to this tax.
This is a tax that has actually been on the books in San Francisco for quite some time, but San Francisco is now actively going out and collecting this tax. They have created an amnesty program for owners like you, who have probably not been paying the tax. The amnesty program is available to owners who rent out five or fewer parking spaces. If you apply under the amnesty program between now and June 30, 2013, you will avoid having to pay back taxes and penalties. If you do not apply, you will have to pay your taxes dating back from April of 2011 until June of 2013.
For more information on this tax and on the amnesty program, you can visit SF.gov or talk to the treasurer and tax collector’s offices in San Francisco. Please remember I am not a lawyer or a tax professional, so you might want to consult with your attorney or your accountant before you pay your taxes or apply for the amnesty program. If you would like to hear more about what I know regarding this program, please contact me at Gordon Property Management.
