Property taxes: the what for, the how much, and the when

If you’re a San Francisco property owner, you’ve received* your property tax bill by now.

When?

This means that the first installment is due in a few weeks — December 10th to be exact. (Actually, because December 10th falls on a Saturday this year, the payment is due on Monday, December 12.)

What does “due” mean? Not to go all Bill Clinton on you while defining the term — but it’s important to know how the Tax Assessor’s Office views that due date. From the Assessor’s Office website:

“Payments made by U.S. mail and postmarked on or before the delinquent date are considered paid on time; private/office postage meters are not acceptable as proof of timely payment. Foreign mail, regardless of the postmark, must be received no later than December 10 and April 10 respectively.”

You can also pay it in person at  Room 140, 1 Dr. Carlton B. Goodlett Pl.,  San Francisco, CA 94102, and online (start by looking up your property, then you can access your bill and pay by electronic check or credit card).

How much? 

Simple: Tax amount = (Assessed Value x Annual Tax Rate) — Exemptions + Special Assessments/Fees/Liens. The assessed value is the cash or market value at the time of your purchase, and this amount is allowed by state law to increase by 2% annually.  The annual tax rate is recommended by the Controller, adopted by the Board of Supervisors, and approved by the Mayor. The tax rate this year is 1.1718%.

What for?

The $1.331 billion collected in property taxes goes into the General Fund, which pays for everyday (i.e., important) city services like parks, fire protection, police, libraries, and street cleaning.

* By the way, not receiving your bill doesn’t excuse you from paying it. Bummer, right? If you haven’t received your bill, go to the website of the Office of the Treasurer and Tax Collector and look up your home by address, or lot & block number.