Passed
Result: 57.8% yes, 42.2% no (887,742 votes cast)
The ordinance implements a 4% tax on real property sales/transfers over $5 million and 5.5% on those over $10 million to fund affordable housing programs and resources for tenants at risk of homelessness. The measure is expected to generate approximately $600 million to $1.1 billion annually until voters choose to end it.