94118 Property Tax Rate

Property owners in ZIP code 94118 (San Francisco, California) pay a median of $10,001/year in property taxes on homes valued at $1,817,200. This translates to an effective tax rate of 0.55%, which is 21% below the California state average of 0.69%.

The monthly property tax burden for a median-valued home in 94118 is approximately $833, which factors into escrow payments on mortgages. This ZIP code is located within San Francisco County. This is $5,101 more than the California average of $4,900/year.

Compared to similar ZIP codes in California, 94118 has lower property taxes. ZIP codes with similar effective rates include 92703 (0.55%) and 95547 (0.55%).

In San Francisco, property taxes represent approximately 6.3% of the median household income of $159,550, providing context for the relative tax burden on homeowners in this area.

Under California's Proposition 13, your purchase price becomes your new assessed value (base year), and property taxes are capped at 1% of that base with only 2% annual increases allowed until resale. San Francisco County offers a Homeowners' Exemption reducing assessed value by $7,000—file with the San Francisco County Assessor within 30 days of closing to claim it on your first tax bill. The San Francisco County Assessor will mail a Preliminary Assessment Notice; review it carefully and file any appeal within 60 days if the base year value is incorrect.