I just purchased property in San Francisco. What taxes do I have to pay?

When you purchase property in San Francisco, you are responsible for any taxes that were not paid when escrow closed. According to the San Francisco Office of the Treasurer & Tax Collector, you should read your escrow papers and/or title report to determine if any of the annual taxes were paid by the previous owner before the escrow closed.

The Office of the Treasurer & Tax Collector mails your annual tax bill once a year by the end of October. Depending on when the ownership change is placed on the tax roll, the annual tax bill will be sent either to the previous owner or directly to you. If you have not received a secured property tax bill by November 1, please contact the Office of the Treasurer & Tax Collector about your bill. Please also contact the Office of the Assessor-Recorder to change the mailing address associated with the property.

In addition to annual taxes, you may also be responsible for paying supplemental property taxes. Any time property in San Francisco is sold, the value of the property is reassessed by the Assessor-Recorder. If the property is reassessed at a higher value, you will receive one or more supplemental tax bills in addition to the annual bill mentioned above. (For more information on supplemental tax bills, see the supplemental property tax section.)

 

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