Weekend Events and the Weekly Real Estate Update

AIDS Walk San Francisco takes place on Sunday. It’s a 10K fundraising walk starting and ending in Golden Gate Park. Thousands will participate in this year’s event. The Renegade Craft Fair happens on both Saturday and Sunday at Fort Mason, and there’s a Bastille Day celebration at Justin Herman Plaza from 11 A.M. to 8 P.M. on Saturday.

On the “Homes for Sale in San Francisco” front, here’s our report for this week, 7/9/17 – 7/15/17

SF Property Assessments Hit $231.2 billion After 10.8% Rise

Thanks to new construction, rising real estate prices and higher inflation, the assessed value of Bay Area real and personal property rose to about $1.6 trillion for 2017-18, up by $110 billion, or 7.4 percent, from the year before. What’s more, according to Kathleen Pender with the San Francisco Chronicle, among all Bay Area counties San Francisco had the biggest percentage jump — 10.8 percent over last year.

The vast majority of taxable property is residential and commercial real estate. The rest is personal property — which includes boats, aircraft and business equipment such as computers, office furniture, and machinery. The three main things that add to a county’s tax roll are new construction (which is generally added at market value), reassessments triggered by property sales, and inflation.

At this point, the San Francisco assessor’s office has not yet done the analysis to determine to what extent specific factors contributed to the City’s 10.8 percent increase.


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