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Chronicle: Property Tax Decline May Hurt Cities for Years

The Chronicle reported yesterday that in seven of the nine Bay Area counties, the property tax rolls are down from the prior year -- a development that is likely to have a devastating effect on school districts, cities and county governments. According to the article:

San Francisco stood out as the sole Bay Area county clocking an increase in the tax rolls, which were up 4 percent compared with last year. Napa County's tax roll stayed the same, according to Assessor John Tuteur.
Because of the paper's annoying "exclusive to the print edition" policy, the link to the article won't work until the morning of July 13, so dig it out of a neighbor's recycling if you just can't wait a day until it's available online.
Property Taxes Drop to Historic Lows [SF Chronicle]