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Finance Committee forwards four property tax ordinances; average tax bill projected to rise 2.58%
Summary
The San Francisco Finance Committee forwarded four property tax ordinances for FY 2007–08 — covering city and county, community college, unified school district and BART levies — after the Comptroller's Office said the combined rate would total 1.141%, producing an approximate average tax bill increase of 2.58% and a reduced rental pass‑through for tenants.
The Finance Committee on Tuesday forwarded four property tax measures to the full Board with a recommendation, the committee chair said, after the Comptroller's Office presented the proposed rates for fiscal year ending June 30, 2008.
Todd Reedstrom of the Comptroller's Office told the committee that "the proposed rates before you today total 1.141%, which will result in an approximate average tax bill increase of 2.58%." He also said the rental pass‑through portion of the tax rate has fallen "from 0.022 ... to the proposed rate, 0.018," which would lower the pass‑through to renters.
The four items cover: the city and county property tax and tenant pass‑through pursuant to Chapter 37 of the Administrative Code; the San Francisco Community College District levy; the San Francisco Unified School District levy; and the Bay Area Rapid Transit district levy. Reedstrom noted that, absent increased debt service needs at the school district and BART, the overall rate would otherwise have declined.
Budget staff recommended approval; there was no public comment on the items, and the committee, without objection, sent the ordinances to the full Board with recommendation.
The full Board will consider the ordinances in its regular agenda; committee members noted the pass‑through change should modestly reduce the burden on renters even as the average property tax bill rises.
The Finance Committee record shows the clerk's reading of the ordinances and the Comptroller's presentation; the items were forwarded to the Board with recommendation.
