“San Francisco property owners will have to dig a little deeper into their pockets come December and April when Property Taxes are due.
The city is raising property tax in accordance with Proposition 13 which allows for a cost of living adjustment of property values. This year the state has approved a .753% increase. (The only other time property taxes change in San Francisco is upon the sale of a property when the value is re-assessed).
The property taxes in San Francisco will increase to $1.1718 per $100 of assessed value. This is expected to boost the total property tax revenue in SF to $1.33 billion this fiscal year…”
…Read this article and more in the new issue of MarketTracker, provided by Zephyr Real Estate. Also in this issue:
- Most Recent Sales
- San Francisco Market Overview
- Dolores Park and Stow Lake Improvements
- Glen Park is Heating Up
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About Danielle
Do you think this will affect the sales market?
Good question! I tend to think it won’t have much affect as it’s not really a big change as far as I can tell.