San Francisco’s Total Property Assessment Above $200 Billion For The First Time
*** PUBLIC SERVICE ANNOUNCEMENT ***
SAN FRANCISCO’S TOTAL PROPERTY ASSESSMENT
ABOVE $200 BILLION FOR THE FIRST TIME
San Francisco, CA – On June 30, 2016, the Office of the Assessor-Recorder submitted the City and County of San Francisco’s Fiscal Year 2016-2017 property tax roll. While the roll is awaiting certification by the City Controller’s Office, preliminary information shows that the total roll has surpassed the $200 billion mark for the first time. At a cumulative value of $208 billion, the total roll value represents an increase of almost 9% over the previous fiscal year.
The Office of the Assessor-Recorder is responsible for establishing a taxable value for all property. The property roll is a summary of the assessed value of all real property and all personal property owned in San Francisco. Each year, the Office of the Assessor-Recorder submits roll data to the Office of the Controller for certification.
Each property’s assessed value serves as the basis for property tax bills. Property taxes represents approximately one-third of San Francisco’s General Fund revenues, supporting local services such as public safety, health, social and neighborhood services.
After certification, the Office of the Controller will transmit the data with the Office of the Treasurer-Tax Collector, the agency responsible for preparing and mailing out property tax bills to owners in October.