Profile picture for dmf415

I just bought my home this year and the property taxes are $300k more than what I paid.what do i do?

The san francisco assessment of my house came in $300k higher than what i paid for the house this year for 2009-2010.  Isn't the property taxes suppose to be based on sale price since I bought in 2010?
  • August 16 2010 - Visitacion Valley
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Answers (5)

Profile picture for wfamilyman

When you purchased your home,you had a appraisal done on the property,Most townships give you a window of about 90 days in the beginning of the year to protest the assessed amount.The township tax assesser will give you a counter offer,if you agree with his appraisal fine .If your not satisfied,you can go to a hearing and state your case.In my case the township lowered my assessement by 135,000.00, saving me about 2,000.00 a year in tax payments.GOOD LUCK.

  • August 18 2010
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It should adjust within the first year of your ownership. You have to pay the taxes as they are now, but the city will issue you a credit toward the following year's tax bill or cut you a refund check.
  • August 18 2010
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Profile picture for dmf415
thanks all =)
  • August 16 2010
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You can also contact http://www.sfassessor.org/ .... Good luck, Rudi
  • August 16 2010
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Profile picture for wetdawgs
It will adjust based on your purchase price.  Often this take 6 to 12 months.
  • August 16 2010
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