San Francisco levies an annual ad valorem tax on real estate holdings within city limits. This levy is based on the assessed value of the property, which is typically close to its market value. For instance, a property assessed at $1 million might incur a tax bill of roughly 1% of that value. Various exemptions and special assessments can influence the final tax amount.
These revenues constitute a significant portion of San Francisco’s general fund, supporting essential public services such as education, public safety, infrastructure maintenance, and parks. Historically, this revenue stream has enabled the city to address evolving civic needs and invest in long-term community development projects. Stable and predictable funding from these levies contributes to the city’s financial health and its ability to provide services to residents.