Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Property Tax Rates topic
No spam. Unsubscribe anytime.
Committee forwards annual property-tax-rate resolution with tenant pass-through updates
Summary
The Budget & Finance Committee moved a property-tax-rate resolution to the full Board; Controller's Office staff presented the combined rate and described voter-approved bond rates, Prop. 13 base, and tenant pass-through rules for FY2024–25.
The Budget & Finance Committee heard the Controller's Office property-tax-rate presentation on Sept. 18 and voted to forward the annual tax-rate resolution to the full Board with a positive recommendation.
Jamie Whitaker, property tax manager in the Controller's budget analysis division, described the resolution as the city’s annual setting of voter-approved bond debt-service tax rates; the staff presentation listed a proposed combined rate of approximately 1.17143563% per $100 of assessed value for Fiscal Year 2024–25. Whitaker reviewed Proposition 13's 1% countywide base tax rate and noted that assessed values may increase under the Prop. 13 CPI cap (the county hit the 2% cap in October of the prior year). Whitaker also described which entities receive tax proceeds (SF County, SFUSD, City College, BART, Bay Area Air Quality Management District) and explained the mechanics of the pass-through rates landlords may choose to charge tenants under the administrative code changes recently adopted by the Board.
No members of the public spoke on the item. The committee recorded a roll-call vote to forward the measure to the Board with a positive recommendation with Vice Chair Rafael Mandelman: Aye; Member Mirna Melgar: Aye; Chair Connie Chan: Aye.
The BLA report accompanies the resolution in the file and recommends approval. The item will be considered by the Board of Supervisors on Sept. 24.
