This coming November, San Franciscans will have the opportunity to vote on a measure that may ultimately lead to the draining and restoration of the Hetch Hetchy Valley and force The City to look elsewhere for most of its water. Read More
San Francisco’s tax rate will increase to $1.1718 per $100 of assessed value, up from $1.164, after the Board of Supervisors unanimously approved the new tax property rate Tuesday. Property tax assessments will also increase under Proposition 13 by 0.753 percent, a cost of living adjustment authorized by the state. Read More
San Francisco homeowners can expect to pay higher property taxes this year.
For a single-family home valued at $500,000, there will be an $82.57 increase in the property tax bill compared to last fiscal year, for a total of $5,821, according to a report from budget analyst Harvey Rose. Read More
Good news for The City’s housing market: Property tax reduction applications are way down from last year, according to a press release Wednesday from the office of Assessor-Recorder Phil Ting. Read More
San Mateo County will give Genentech $26.5 million in property tax credits to settle a long-running legal dispute, but the two sides still disagree about how the biotech heavyweight has been taxed for the past decade.
On Wednesday, a Superior Court judge signed off on the settlement between the county and Genentech — the Peninsula’s largest payer of property taxes — resolving claims from a 2006 lawsuit that the company paid excess levies from 1990 through 1999. Read More
And now for more good news from San Francisco Assessor-Recorder Phil Ting.
San Francisco is expecting a significant jump in property taxes, which account for 33 percent of general fund revenues, according to Ting, who is planning to formally announce the increase at a press conference Thursday. Read More
Property owners will catch a small tax break next year thanks to the weak economy.
The amount of the levy on properties is adjusted each year based on an inflation factor, but the state announced a negative rate Monday, leading to a statewide decrease. Read More