Lee--Great answers below. One thing I'd like to add is that if you are purchasing property, it's a good idea to consult disclosures regarding any additional fees (school district, bonds, etc). For example, I'm in escrow now with a client whose condo in Lower Pacific Heights carries about $200 worth of annual fees related to past voter-enacted propositions. Not a huge deal, but it can be if you neglect to pay those fees for whatever reason.

The supplemental property tax is a an excellent point. Many buyers don't quite understand the concept until they receive the bill in the mail.

Dear Lee,

Just a quick note, it is the City and County of San Francisco so all taxes are figured in one amount and as others have stated, all special assessments are factored in to one charge. Grace is correct about the supplemental tax bill as your bill at the close of escrow will not reflect the sales price.

Good luck,

Sally

Lee:

Just one more thing, remember when you are buying your home, the title company will only "estimate" your taxes based on the previous bill. Shortly after your escrow closes (about 60-90 days later), you will receive a "Supplemental Property Tax Bill" that will cover the difference between the amount assessed to the old owner and the amount assessed to you. Now that prices are going down (rather than up), the Supplemental Bill can be smaller than the previous tax statement.

Some Cities and Counties add charges to the property tax bills, so that the fee is not just property taxes, but may also include, for example, sewer line charges, and along Coastal Areas, a preservation fund tax. To get the correct amount of property tax expected for your area (as well as the components of the bill) call the City and County of San Francisco's tax assessment office.

Sincerely,
Grace Morioka, SRES, e-Pro
Area Pro Realty
San Jose, CA

AACKK! Shaban is absolutely correct! It is late and I am having a brain fade! Thanks for correcting Shaban!

Taxes are paid to the County, which sends a portion of the taxes to the State via the general fund.

You pay one property tax bill, which goes to the state. Any fees inposed by the city and county are included in that tax bill. Taxes should be disclosed to you when you are in escrow if not before.