Property taxes in San Francisco, California, play a crucial role in supporting essential local services, including public education, road upkeep, and emergency response operations.
San Francisco’s median tax rate stands at 1.23%, exceeding both the California state median and the national median of 0.99%. These rates are determined annually by local government agencies in San Francisco and can vary considerably between neighborhoods.
San Francisco determines its annual property tax rate by first estimating the budget needed to maintain public services for the upcoming fiscal year. This budget is then divided by the total value of all taxable property within the city to calculate the tax rate. Although laws and voter decisions can influence tax rates and budgets, this formula serves as the foundation for setting property taxes.
Comparing San Francisco’s effective property tax rate to other California counties and the national median offers insight into the region’s diverse tax environment. For example, the 94104 zip code has the highest median property tax rate in San Francisco at 1.38%, while the 94123 zip code has the lowest at 1.20%. Understanding how San Francisco’s rates align with those of nearby areas helps homeowners better grasp their property tax responsibilities.
