In San Francisco, property taxes for the fiscal year 2024-2025 are assessed and billed based on the following process:. This is a summary, for more information , follow this link: ​sftreasurer.org

Assessment of Property Value:

Under California's Proposition 13, properties are generally reassessed to their current market value only upon a change in ownership or the completion of new construction. Annually, the property's assessed value can increase by a maximum of 2% or the rate of inflation, whichever is lower. This adjusted value is known as the "factored base year value.

Calculation of Property Taxes:

The property tax amount is determined by multiplying the assessed value by the applicable tax rate. For the fiscal year 2024-2025, the secured property tax rate in San Francisco is 1.17143563%. This rate includes the base 1% mandated by Proposition 13, with the remainder accounting for voter-approved debt obligations and special assessments. ​

Billing and Payment Schedule:

Property tax bills are mailed to property owners in October. Payments can be made in full or in two installments:​

• First Installment: Due by December 10. Payments received or postmarked after this date incur a 10% penalty.​ll-

• Second Installment: Due by April 10. Late payments are subject to a 10% penalty plus applicable fees.

If taxes remain unpaid by June 30, the property becomes tax-defaulted, accruing an additional 1.5% penalty per month plus a redemption fee. ​

Supplemental Assessments:

Following a change in ownership or new construction, the Office of the Assessor-Recorder may issue a supplemental assessment to reflect the updated property value. This results in a supplemental tax bill, which is separate from the regular property tax bill and is prorated based on the date of the change. ​

Unsecured Property Taxes:

Unsecured property taxes apply to properties not secured by real estate, such as business personal property, boats, or possessory interests. For the fiscal year 2024-2025, the unsecured property tax rate is 1.17769382%. These taxes are typically billed in July and become delinquent after August 31, with a 10% penalty applied to late payments.

Vacancy Taxes:

San Francisco has implemented taxes to address property vacancies:​

• Commercial Vacancy Tax: Applies to certain commercial spaces vacant for more than 182 days in a calendar year, with rates ranging from $250 to $1,000 per linear foot of frontage. This tax was approved in March 2020. ​

• Empty Homes Tax: Targets residential units vacant for over 182 days annually, with tax amounts between $2,500 and $5,000 per unit, increasing each subsequent year of vacancy. However, enforcement of this tax has been halted due to legal challenges, and its future implementation remains uncertain.

For detailed information or assistance, property owners can contact the Office of the Assessor-Recorder or the Office of the Treasurer & Tax Collector through San Francisco's 311 Customer Service Center by dialing 3-1-1 within the city or 415-701-2311 outside San Francisco.​