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Supplemental Tax

San Francisco Assessor-Recorder Joaquín Torres
57 subscribers
1.7K views 3 years ago
After a property transfers, State law (Proposition 13, passed in 1978) requires the Assessor’s Office to set a new assessed value for your property. This value, called the assessed value, should reflect the market value of the property as of the date of transfer. However, it takes time for our office to analyze market data to determine the fair market value. By the time we value your property for reassessment and update our records, property tax bills may already be calculated based on the prior assessed values. Therefore, supplemental tax bills are issued. In this video Assessor-Recorder Torres briefly explains the Supplemental Tax process. If you have any questions, contact assessor@sfgov.org or visit www.sfassessor.org for more information. ...more
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Supplemental Tax
2Likes
1,710Views
2022Jun 8
After a property transfers, State law (Proposition 13, passed in 1978) requires the Assessor’s Office to set a new assessed value for your property. This value, called the assessed value, should reflect the market value of the property as of the date of transfer. However, it takes time for our office to analyze market data to determine the fair market value. By the time we value your property for reassessment and update our records, property tax bills may already be calculated based on the prior assessed values. Therefore, supplemental tax bills are issued. In this video Assessor-Recorder Torres briefly explains the Supplemental Tax process. If you have any questions, contact assessor@sfgov.org or visit www.sfassessor.org for more information.

Follow along using the transcript.

San Francisco Assessor-Recorder Joaquín Torres

57 subscribers