SAN FRANCISCO – This past fiscal year, Office of Assessor Carmen Chu granted over $13.1 billion in property tax exemptions. The amount of exemptions that were granted to homeowners was $620 million, and $12.5 billion were granted toward nonprofit, educational, institutional and religious properties. Exemption applications for the coming fiscal year 2019-2020 are due today, February 15th. For more information on exemptions, visit the Assessor’s website at sfassessor.org or call 311.
“In an expensive market like San Francisco, exemptions are one way we help nonprofits and homeowners financially,” said San Francisco Assessor Carmen Chu.
The $13.1 billion reflects a 37 percent increase from the previous fiscal year in which the office granted $9 billion in exemptions. The increase is due to efficiencies in processing applications, which allow exemptions be granted earlier, and several large exemptions, including major exempt projects coming online like the Sutter Bay Hospital (Van Ness Campus) and the changes to the Fisher Art Collection, housed at San Francisco Museum of Modern Art.