Financing in Potrero Hill>Question Details

Phil Schulz, Other/Just Looking in San Francisco, CA

What's an "Escape Assessment" in property tax?

Asked by Phil Schulz, San Francisco, CA Wed Jul 25, 2007

Our condo was just assessed at 175% of the purchase price (we closed 1 year ago).

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An escape assessment is the increased amount in real property valuation over the regular assessed valuation from a delayed reappraisal of the property and/or an erroneously applied homeowner's exemption valuation reduction. A secured property escape tax bill retroactively taxes the increased amount of valuation over the regular tax bill. In other words your property was reappraised for property tax purposes probably prior to your purchase, but due to legal rangling wans't able to be enforced until a year of so later.
0 votes Thank Flag Link Wed Jul 25, 2007
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