San Francisco is taxing the rich to pay for free community college | fox5sandiego.com
GoSearch Posted 5:05 PM, February 11, 2017, by CNN Wire × San Francisco is taxing the rich to pay for free community college Job seekers wait in line to meet with a recruiter during a job and career fair at City College of San Francisco southeast campus on May 30, 2013 in San Francisco, California. Hundreds of job seekers attended a career fair hosted by the San Francisco Southeast Community Facility Commission. (Photo by Justin Sullivan/Getty Images) NEW YORK — San Francisco will be the first city in the nation to offer free community college to all residents starting this fall, Mayor Ed Lee announced this week. The city will pay for it by taxes on properties selling for more than $5 million. The real estate transfer tax, as it's called, was increased last year for both residential and commercial properties. The hike was approved by voters in November. The tax starts at 2.25% and goes up to 3% for properties worth at least $25 million.Read full article from San Francisco is taxing the rich to pay for free community college | fox5sandiego.com
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