No Tax Breaks for the Rich, while Poor Die in the Streets!

The Shorenstein Company, the biggest and most powerful owner of commercial real estate in San Francisco and a major power behind Willie Brown and the Democratic Party, is demanding a $2.4 million reduction in year 2002 property taxes on their Bank of America Building.

People’s Budget is calling on all organizations to picket City Hall at noon on Tuesday, Feb 3, and then to pack the Assessment Appeals Hearing at 1 PM, in Room 406 City Hall.

Shorenstein got almost $12 million in property tax reductions on the Bank of America Building between 1993 and 1998, and is applying for $4.2 million reduction in 2003.

Meanwhile, San Francisco is planning devastating cuts to City Health, Human Services, Education, and other vital services because of budget shortfalls brought on by collapse of the dot-com bubble, tax cuts to the rich, and war/occupation expenses. The business-friendly State budget plans to take $18 million in vehicle license fees and some $45 million in property tax fees from San Francisco.

No Tax Breaks for the Rich, while Poor Die in the Streets!