Re:The Housing Market in San Francisco and Ideas to Fix It
by mdb333 on Friday April 08, 2016 @03:16PM
(#11457110)
It's a bit more than 1% in SF, getting close to 1.2%
http://sftreasurer.org/online-property-tax-payment-faq#taxam...
There are well-established solutions to your issue about people being forced out of housing with rising demand. Massachusetts allows tax deferrals up to 50% of a property value. (If you want to get technical, Massachusetts allows towns/cities to allow tax deferrals; if your city does not want to offer it, they do not have to)
So, your $250,000 -> $1 million dollar house allows up to $500,000 in tax deferrals, so you've got a lot of years you can live in that house without paying taxes. When you sell the house, you pay the taxes and also pocket a pretty sum on the appreciation in the value of the house.