Articles Recently Tagged: Proposition 13

(11 posts)
Presidio Heights Home Joins The Million Dollar Price Cut Club

Presidio Heights Home Joins The Million Dollar Price Cut Club

Having hit the market two months ago listed for $11 million, the list price for the Presidio Heights property at 3636 Clay Street has just been reduced by $1.2 million, now asking $9.9 million for the 8,000 square-foot home and newest member of our growing million dollar price cut... Read More »

An $11M Presidio Heights Mansion Without A Garage (For Now)

An $11M Presidio Heights Mansion Without A Garage (For Now)

Built in 1899 and having only traded hands a couple of times, the tax assessed value for the nearly 7,000 square foot home at 3636 Clay Street is currently $294,125.  And as such, the property tax bill totaled $3,744 last year. Having just hit the market listed for $11... Read More »

Property Tax Rate In San Francisco Set To Drop

Thanks to rising property values, the property tax rate for the City and County of San Francisco is slated to decrease from $1.1880 per $100 of assessed value in the current Fiscal Year to $1.1743 per $100 of assessed value for Fiscal Year 2014-2015, a drop of 1.15 percent. For properties... Read More »

Loophole In Bill To Close Prop 13 Loophole Removed

Designed to close a loophole in Proposition 13 which has allowed businesses to avoid property tax reassessments upon the purchase of a property, Tom Ammiano’s proposed Assembly Bill 2372 aims to refine what constitutes a sale. But as originally drafted, the bill would have created a loophole of its own.... Read More »

Bill To Close Proposition 13 Loophole Passed By State Assembly

As the State Senate revived a bill to freeze speculative evictions in San Francisco, the State Assembly passed a bill designed to expand the definition of a “change of ownership” for properties in California in an attempt to close a Proposition 13 loophole. Passed by a vote of 57-13... Read More »

Proposition 13 Pigs Have Grown Some Wings

Designed to protect long-term homeowners from a spike in property taxes as property values rise, California Proposition 13 freezes the tax assessed value of a property at its purchase price plus a nominal annual adjustment of not more than 2 percent. Proposition 13 applies to both individuals and businesses... Read More »

San Francisco Property Tax To Increase, Where The Dollars Will Go

San Francisco Property Tax To Increase, Where The Dollars Will Go

The Property Tax rate for the City and County of San Francisco is slated to increase 1.62 percent from $1.1691 per $100 of assessed value in the current Fiscal Year to $1.1880 per $100 of assessed value for Fiscal Year 2013-2014. The proposed allocation of San Francisco’s property tax... Read More »

The Aliotos’ Towering Mansion Sells For Millions Under Asking, But Fifty-Two Times Their Purchase Price

The Aliotos’ Towering Mansion Sells For Millions Under Asking, But Fifty-Two Times Their Purchase Price

Having hit the market asking $16,500,000 this past March, the list price for the Aliotos’ Pacific Heights home at 2898 Vallejo Street was reduced to $13,900,000 in April. This afternoon, the sale of 2898 Vallejo closed escrow with a reported contract price of $11,750,000, roughly two million “under asking,”... Read More »

Now Asking $38M (And Still Contributing Under $8K In Taxes Per Year)

Now Asking $38M (And Still Contributing Under $8K In Taxes Per Year)

As we reported when the list price for 2901 Broadway was reduced to $45,000,000 in 2009: It was the 2007 Decorator Showcase Home and has been on the market for over two years (an “official” DOM of 690). It was initially listed for $55,000,000 in early 2007 and received... Read More »

Proposition 13 In Practice Along San Francisco’s Gold Coast

The impact of Proposition 13 and the inequities it’s created along San Francisco’s Gold Coast has long been a topic of conversation and debate amongst the plugged-in crowd. Today The Bay Citizen tackles the topic with examples of annual property tax bills along Broadway that range from $4,965 for... Read More »

Full Taxation On Your Location? (The Great Proposition 13 Debate)

“No taxation without representation” was the catchy and quite effective battle cry back then. While today’s “Close The Loophole” by San Francisco Assessor-Recorder Phil Ting simply doesn’t have the same ring. We’ve been saving the topic for this long weekend which seems especially well suited for a Proposition 13... Read More »