Property owners will see their property tax rate increase slightly after the Board of Supervisors approved a new rate Tuesday.
A property valued at $500,000, for example, will increase by $11 with the new rate.
The property tax rate will increase slightly by .43 percent for a rate of $1.164 for the current fiscal year. That’s an increase of $0.005. The causes of the increase: increasing debt service for The City, the San Francisco Unified School District and BART.
Landlords are allowed to pass through some of the cost to tenants. This fiscal year, the pass-through rate is proposed at “$0.048 percent $100 of assessed value, a $0.010, or 26.3 percent increase from” the fiscal year 2009-10 pass-through rate of $0.038, according to a report on the proposal by Budget Analyst Harvey Rose.