San Francisco Mayor Daniel Lurie is urging voters to support a parcel tax aimed at addressing a $307 million budget shortfall facing Muni. Proposition H, which will appear on the Nov. 3 ballot, would raise money for the transit agency through an annual parcel tax. Without additional funding, M uni says it could eliminate 19 bus lines and a streetcar route while reducing the frequency of service. A report from the San Francisco Controller’s Office found that reductions in bus and rail service could have broader economic effects across the city. According to the report, home prices could drop by as much as 0.9%, or about $14,000. The report also found that if Proposition H passes, nearly 1,509 jobs could be created over 15 years and the measure could generate about $400 million in economic growth. If approved, owners of single-family homes and condominiums would pay an annual parcel tax of at least $129. The tax would be at least $249 for multifamily properties and $799 for businesses. Lurie spoke in support of the measure Wednesday outside San Francisco City Hall. “If this does not pass, we could see wait times double,” Lurie said. “We could see a cut to service by up to 30%. We will see more traffic and gridlock on our streets, which will stunt our economic recovery.” San Francisco voters will decide Proposition H in the Nov. 3 general election. The city confirms that local ballot measures will be decided in that election. ...read more read less