Tax This: Homeowners Demand Double Take

Despite falling home prices, assessed San Francisco property values and taxes have been rising— much to the chagrin of local homeowners, many of whom have become dubious of growing inconsistencies in property tax values. And don't you know they've let the tax assessor's office know it: Three times as many requests for reevaluation have been filed recently. And you'd better believe the office listened up: Just a month after the submission deadline, those requests have been answered, and almost half of the 1,673 reviews have resulted in a property tax reduction averaging 11.5%. That works out to be $137,057. So what does this mean for the city? They'll be collecting $1.1 million less in property tax this year. We're sure they can divert some more funds from MUNI or something...
· More than 800 homeowners granted a reduction in assessed value [SF Examiner]
· Homeowners to City: My House is Worth What?! [Curbed SF]For more stories from Curbed SF, go to sf.curbed.com.