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Property Taxes to Go Up, But Not Exactly Skyrocket or Soar

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Yup, your property taxes are about to go up. You may have thought they were frozen under 1978's Proposition 13, but even that draconian measure allows for increases as long as they're under 2% of the existing rate. And so, this week the Board of Supervisors' Budget and Finance Committee will vote on an increase of .753% to a whopping 1.1718% of a property's current valuation. Or in cold hard cash, $165.14 per $1,000,000, bringing your total for 2011 to $10,562. Of course, if you had managed to buy the same house in the 1950's, your 2010 taxes would have been only $1,129. We don't think the Supes will be able to resist this relatively painless bit of blood-letting. Seriously, it's half a pair of decent shoes. Or dinner and a movies for a family of four.
· Higher Taxes Coming For San Francisco Properties [SF Examiner]
· 1494 Plymouth Avenue [Redfin]