SFRealEstateBuzz – Do we love a property tax reduction? Why, yes we do. . .

SFRealEstateBuzz

Let’s Splurge on Avocado Toast

Instead of Taxes!

************************

I know. Not my best title, but we’re in a time crunch here and it’s important to get this out before the end of the month.

So, do you want to save a thousand dollars? Or two? Or three? There’s still time to apply for a tax reassessment before March 31 and save money on payments due this December and next April.

Even if you think your property has appreciated since you bought it, you may still qualify for a reassessment in the eyes of the City. I have a clients who bought as far back as 2019 and still qualified for a reassessment that will save them about $1,250 over the next 12 months.

Right now it’s easy to apply using the City’s informal reassessment form. All you need are three comparables that sold between October 1, 2023 and the end of this month.

That’s where I can offer an assist – it’s pretty easy for me to bang out a sales report using the San Francisco Multiple Listing Service, and I can make sure the comps align with the City’s tax records for square footage and Bedroom/Bath count.

I’ll be reaching out to some of you over the next few days if I think you may qualify. The first thing I do is go online to see what your assessed value was on January 1 2024. I also check and see what the City thinks your home’s characteristics are–sometimes their records show smaller square footage or fewer room, and we need to make sure the comparables match what they say. If your assessed value seems high relative to comps data, I will create and send you the report.

If you want to take a stab at this, please reach out ASAP and we’ll see what we can do. I look forward to hearing from you and helping you save a bit of money for holiday gifts, graduation presents, or even a shopping spree at Design Within Reach.

Cheers to you and happy spring!

Cece Blase

Vantage Real Estate License #00926690

1980 Union Street

San Francisco, CA 94123

Direct 415-577-0809

Fax 415.738.7264

Mobile 415.577.0809

cece@sfrealestatebuzz.com

facebook.com/sfrealestatebuzz

instagram.com/sfrealestatebuzz

PS: If you miss the March 31 deadline for the informat reassessment, an opportunity for a formal reassessment will open up between July 1 and September 15. The formal process is more involved, however and requires an application fee and hearing down at the Assessor’s office. It’s still worth the effort however if your calculation comes in 5% lower or more than what you paid.

Skip to content