The annual levy imposed on real estate within San Francisco’s jurisdiction represents the financial contribution property owners make toward essential public services. This assessment, determined by the assessed value of the property, funds vital operations such as public education, emergency services, infrastructure maintenance, and parks. A detailed statement outlining the assessed value, applicable tax rates, and due dates is provided to each property owner. For example, a residential property assessed at $1 million with a combined tax rate of 1.2% would generate an annual tax of $12,000.
This revenue stream forms a cornerstone of the municipal budget, enabling the city to deliver crucial services and maintain the quality of life for residents. Historically, property taxes have been a primary funding mechanism for local governments, ensuring their ability to operate effectively and meet community needs. A stable and predictable source of income like property tax revenue allows for long-term planning and investment in crucial projects, fostering economic stability and sustainable growth.