Yup, it's that time again! The San Francisco Property Tax Person cometh...
As a friendly reminder, San Francisco property taxes were due November 1st and will be delinquent by December 11th. If you have not received your bill, contact the Tax Collector right away at: SFGOV Property Tax Site. The 1st installment is due by December 10th (If you purchased recently, make sure you pay your supplemental bill if you received one.). The second installment will be due in February 2016 and will be delinquent on April 10th.
There's an expression in real estate that we use to remember the key property tax dates: No Darn Fooling Around. Aka, November, December, February, April. Fun with acronyms!
The Board of Supervisors approved a 0.008 percent property tax increase for San Francisco homeowners back in September. And due to rising home values, homeowners will most likely see an even sharper increase on their San Francisco property taxes than that.
A good way to stay on top of your overall costs is to factor in your property tax rate when you pay your mortgage each month. By breaking down your property tax on a monthly basis, you’ll have a better idea of how to budget.
Let's say you recently purchased your Noe Valley condo and have yet to receive an updated tax bill in your name. No matter. It's still due and you can pay online through the city. Eventually, the tax assessor will catch you up to your current tax bill by sending a supplemental bill(s). Be sure to check for those as well on the helpful San Francisco property tax website.
Of course, for those of you wanting to change your property tax situation: i.e., buy a home in SF, sell a home in SF, relocate to greener pastures, scale up or scale down, please give me and the SFhotlist real estate team a call so we can craft the best strategy for you.
-DL
