City College of San Francisco is set to become free to city residents for the first time in more than three decades.
Voters on Tuesday appear to have passed Proposition W, a real estate sales and transfer tax on properties over $5 million, which will generate enough revenue to eliminate the cost of attending City College of San Francisco for those who live in The City.
Prop. W is expected to bring in on average $45 million a year to The City’s general fund, and a resolution passed by the Board of Supervisors earlier this year commits the revenue to making CCSF tuition-free. CCSF was last free in 1983.
The measure doesn’t change the rate of the transfer tax for sales under $5 million, but for sales over $5 million the tax increases by .25 percent. Opponents had said the tax will not simply collect funds from the rich but will impact renters since some large rental properties sell for millions because of their size and not their luxury.
