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> And what on earth does Chicago have to do with San Francisco or New York? This was such a laughable comparison because BOTH of these cities have high propert

> And what on earth does Chicago have to do with San Francisco or New York? This was such a laughable comparison because BOTH of these cities have high property taxes compared with more affordable cities in other states.

smugma 4y ago
San Francisco (all of CA) has very low property taxes compared to non-CA cities. Because of Prop 13, property taxes are limited to 1% of the purchase price of the home (appraised values can change a max of 2%/yr). As a result, my neighbor has a house with an effective tax rate of <0.1% ($3,000/yr on a single family house worth >$3M).
bradgessler 4y ago
I don’t know about NY, but in SF property taxes are effectively frozen based on the value of your home when purchased. I rented a house once in West Portal where the landlord was paying property taxes on the 1970 value of the home, which was something like $70k. The owner was gifted this house and taxes basis from their parents, who originally bought it. The tax bill came out to just a few thousand dollars as of 2020. Meanwhile my neighbor at the time bought their house for $3m and was paying something like $35k. I thought about writing the property taxes in front of each house on the sidewalk with sidewalk chalk to make a point how messed up this tax policy is, but I opted instead to keep the peace and do nothing. This loophole is used by families in CA as a way to pass assets to their heirs. The worst part is the tax rate also gets passed down, but one generation tops.
- smugma 4y ago
  This website makes it easy. I looked up West Portal and there are several homes paying 1-3K, many in the 15-20K, and some 30K+ https://www.officialdata.org/ca-property-tax/#37.74219147779023,-122.46279448270799,19 https://www.officialdata.org/ca-property-tax/#37.74219147779...
  - bradgessler 4y ago
    Yeah! This site is what gave me the idea for sidewalk chalking tax rates on the neighborhood sidewalks.
- housedrafta 4y ago
  Not only keep the peace, but you probably already understand that West Portal residents likely do not care about wealth inequality, or care about it in the opposite way that you seen to. I mean you don't wind up there by accident.
vostok 4y ago
I think New York means NYC in this context and NYC has incredibly low property taxes. I believe it's due to a cap on maximum annual increases. New York State tends to have high property taxes on the other hand. I'm less familiar with San Francisco, but I wouldn't be surprised if they had low property taxes due to Prop 13.

smugma 4y ago

San Francisco (all of CA) has very low property taxes compared to non-CA cities. Because of Prop 13, property taxes are limited to 1% of the purchase price of the home (appraised values can change a max of 2%/yr). As a result, my neighbor has a house with an effective tax rate of <0.1% ($3,000/yr on a single family house worth >$3M).

bradgessler 4y ago

I don’t know about NY, but in SF property taxes are effectively frozen based on the value of your home when purchased. I rented a house once in West Portal where the landlord was paying property taxes on the 1970 value of the home, which was something like $70k. The owner was gifted this house and taxes basis from their parents, who originally bought it. The tax bill came out to just a few thousand dollars as of 2020. Meanwhile my neighbor at the time bought their house for $3m and was paying something like $35k. I thought about writing the property taxes in front of each house on the sidewalk with sidewalk chalk to make a point how messed up this tax policy is, but I opted instead to keep the peace and do nothing. This loophole is used by families in CA as a way to pass assets to their heirs. The worst part is the tax rate also gets passed down, but one generation tops.

smugma 4y ago
This website makes it easy. I looked up West Portal and there are several homes paying 1-3K, many in the 15-20K, and some 30K+ https://www.officialdata.org/ca-property-tax/#37.74219147779023,-122.46279448270799,19 https://www.officialdata.org/ca-property-tax/#37.74219147779...
- bradgessler 4y ago
  Yeah! This site is what gave me the idea for sidewalk chalking tax rates on the neighborhood sidewalks.
housedrafta 4y ago
Not only keep the peace, but you probably already understand that West Portal residents likely do not care about wealth inequality, or care about it in the opposite way that you seen to. I mean you don't wind up there by accident.

vostok 4y ago

I think New York means NYC in this context and NYC has incredibly low property taxes. I believe it's due to a cap on maximum annual increases. New York State tends to have high property taxes on the other hand. I'm less familiar with San Francisco, but I wouldn't be surprised if they had low property taxes due to Prop 13.