Assessor-Recorder Carmen Chu Announces $11 Billion (6.5%) Increase In Property Roll Value From Previous Year
*** PRESS RELEASE ***
ASSESSOR-RECORDER CARMEN CHU ANNOUNCES $11 BILLION (6.5%) INCREASE
IN PROPERTY ROLL VALUE FROM PREVIOUS YEAR
San Francisco’s real estate market shows continued strength with
total assessed property value totaling $191 billion
San Francisco, CA – Assessor-Recorder Carmen Chu announced that the City and County of San Francisco’s property roll value grew to $191 billion for Fiscal Year 2015-16, which is an increase of 6.52% or $11.7 billion over the previous fiscal year. The roll is a summary of the assessed value of all real property and all personal property owned in San Francisco.
Assessor-Recorder Chu stated, “San Francisco’s real estate market shows continued strength with the 2015 roll year closing at a record high of $191 billion in assessed value. Leading the way is new construction activity and changes in property ownership.”
Chu continued, “I want to take the opportunity to thank my staff for their hard work and commitment to fairly and equitably assessing each property. San Franciscans will directly benefit as the revenue generated from our work goes directly to funding critical services that citizens rely on.”
There are currently 206,460 parcels in the City and County of San Francisco that received a real property assessment, an increase of 1,330 parcels from Fiscal Year 2014-15. Over the next few weeks property owners in the City and County of San Francisco will receive their annual letter notifying them of their property’s 2015-2016 assessed value. The value serves as the basis for the property tax bills that owners will receive from the Treasurer-Tax Collector’s office.