SF Property Tax Roll Increased 35% in Three Years
For Immediate Release
Date: June 28th, 2019
Contact: Vivian Po, (415) 554-5502
*** PUBLIC SERVICE ANNOUNCEMENT ***
SF PROPERTY TAX ROLL INCREASED 35% IN THREE YEARS
San Francisco, CA – Thanks to the diligent work of the staff at the Office of the Assessor-Recorder, San Francisco’s property tax base has expanded significantly over the past few years. At a cumulative value of $271 billion, the total secured roll value represents an increase of 35% compared to three years ago.
There are over 211,000 parcels in the City and County of San Francisco and the Office of the Assessor-Recorder is responsible for establishing a taxable value for all property. The secured property roll is a summary of the assessed value of all real property owned in San Francisco. The office estimates that 16% of the total secured roll growth was attributed to property transfers, 51% to construction activities, and 33% to annual inflationary increases under Proposition 13 (1978).
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. Each year, the Office of the Assessor-Recorder submits roll data to the Office of the Controller for certification. 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.