Governor Brown’s move to abolish redevelopment agencies across CA was upheld by the Supreme Court. Can large scale neighborhood revitalization and Redevelopment projects survive without agency dollars? Critics of the agency have argued that great communities have been built in the US and abroad without Government Support or Zoning. Critics have also argued that SF can’t show any Redevelopment projects that successfully integrate different populations and neighborhoods. Do you disagree? Do you agree? We would love to hear from you and will publish all comments.
Proposition 13 establishes a maximum property tax rate of one percent (1%) of the assessable value of a property. In addition to this 1%, additional tax rates are added as explained below to pay for bond measures etc.
Property assessment is made after a sale or after new construction is completed. After that, property taxes may not increase by more than 2% annually.
San Francisco property tax rates:
City and County of San Francisco (Budget approved by Mayor and Board of Supervisors)
San Francisco Unified School District (Budget exclusively controlled by Board of Education)
San Francisco Community College District (Budget exclusively controlled by Board of Governors)
Bay Area Pollution Air Quality District (Budget exclusively controlled by District Directors)
Bay Area Rapid Transit District (Budget exclusively controlled by District Directors)
TOTAL TAX RATE 1.140%
The 1% tax rate collected in taxes is distributed as follows:
14.41% – Public Protection
12.26% – Schools
3.38% – Culture & Recreation
6.88% – General Administration and Finance
17.84% – Health
10.96% – Human Welfare and Neighborhood Development
34.27% – Public Works, Transportation and Commerce
The Case-Shiller Index of home prices ( the most reliable index out there) for October indicates that:
Year over Year, SF Home prices fell 4.7%
Down 39.4% from a peak in May 2006
Condos in SF:
Down 8 % Year over Year
Down 35.6% from a December 2005 Peak
Definitely a great time to bid on a condo and we have several clients doing exactly that.
Contact us to via our web site to find out more about the existing inventory of condos.
It’s a lot of money and quite a pad:
priciest NY apartment
Trends in Real Estate report prepared by the Urban Land Institute for Institutional investors and Developers. SF ranks as a best buy for office and apartments. “Bullish market timers bet on room for big future office rent increases, pushing purchase pricing way ahead of fundamentals.” Empty buildings counterintuitively look most attractive to some buyers: “They see so much upside in rents.” In fact, the South of Market district “catches fire”—reminiscent of pre-tech-bubble-burst days in 2000. Computing and internet firms expand to satisfy young tech-savvy hires who want to work and live in the midst of 24-hour city amenities and action. Unlike tentative tenants in most other markets, Bay Area tech companies readily lease large blocks of space for future expansion. But overall market vacancies still register in the mid- to low teens, and demand in this Pacific gateway can fall suddenly.”
We came across this database that compares major SF Bay Area banks in terms of loans to deposit and other factors:
What a great idea: consigning the furniture you don’t want or buying from this store/showroom. Make sure to check out the web site. The store/showroom is in SF.
Multifamily housing investments, ETF and REIT are making a strong comeback as demonstrated in the article below. We have been looking at SF income properties for our investors since July. Contact us to discuss the cap rates you can expect for various types of income properties.
Home insurance is a necessity for investors and homeowners but home insurance policies can differ radically. Read this and protect yourself:
home insurance traps