Real estate levies in the City and County of San Francisco fund essential municipal services such as public education, emergency services, parks, and infrastructure maintenance. These assessments are based on the assessed value of a property, which is typically lower than its market value, and are calculated using a rate established by local government. For example, a property assessed at $1 million with a tax rate of 1% would incur an annual levy of $10,000.
Stable and predictable revenue streams generated through these levies are vital for the city’s financial health and allow for long-term planning and investment in public services. Historically, these revenues have played a crucial role in shaping San Francisco’s development and growth, enabling the city to fund major projects and respond to community needs. Understanding how these assessments are determined and their impact on both individual property owners and the broader community is essential for informed civic engagement.