Archive for the ‘real estate’ Category

Part of a series of posts from the San Francisco Office of Assessor Carmen Chu.

From the Office of Assessor Carmen Chu: Tax Savings for Families

Thinking about passing on property to your children? It is important to know that California tax laws allow parents to transfer ownership to their children (and vice versa) without reassessing the property to market value.

Prop 13 (1978), passed by California voters in 1978, caps yearly assessment increase on a property at 2% or the inflation rate of the California Consumer Price Index, whichever is less. However, if there is a change in ownership, property will be reassessed to market value.

However, if you submit a claim form for Prop 58 tax exclusion, your children will be able to keep your current assessed value on the property and continue to pay property taxes as you would have. This year, we have granted close to 2,000 Prop 58 exclusions for transfers between parent and children.  (more…)

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From SF Planning, regarding upcoming Balboa Reservoir Project events.

We would like to remind you that the next Balboa Reservoir CAC Meeting will be held on Monday, April 9th, 6pm at the City College Multi-Use Building, room 140. The development team will be providing updates based on feedback heard to date. The agenda (PDF).

We would also like to announce that on April 20 and 21, the development team will be hosting open house events in the neighborhood. Community members will have the opportunity to learn more about and offer feedback on the housing, open space, and public amenities in the development team’s refined base case plan. The open houses will take place Friday, April 20 from 2-6pm and Saturday April 21 from 10am-2pmat the 1100 Ocean Ave Community Room (in front of Unity Plaza right next to Philz Coffee).  (more…)

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Part of an occasional series of posts with information from the San Francisco Office of the Assessor-Recorder.

From the Office of Assessor Carmen Chu: Tax Savings for Seniors

Many seniors may consider moving to a smaller and more convenient property to live as they grow older. However, buying a new house means they need to pay property taxes at the market value of the new property, which may be much higher than their current assessment (due to inflation cap under Prop 13). Good news is California tax laws allow senior owns to transfer their assessed value. houselet

Prop 60 is a constitutional amendment passed by California voters in 1986 that allows owners who are 55 years old or older to transfer the assessed value of their existing home (original property) to their new home (replacement property) if both properties are located in the same county.

For seniors who are interested in moving to another county, please check with the local County Assessor where your new property will be located to see if they accept assessment transfer from another county, also known as Prop 90.   (more…)

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UPDATE Apr 18, 2018: This bill has been voted down in the CA Senate at committee level. http://www.sfexaminer.com/wiener-bill-allowing-taller-buildings-near-transit-dies-committee/

This post is to provide information to residents of our neighborhood; SNA does not take positions on government legislation. [UPDATE Mar 01: Bill has been amended. More: https://hoodline.com/2018/02/bill-to-promote-housing-near-transit-amended-to-address-local-concerns

California State Senator Scott Wiener has introduced legislation, SB827, which proposes to change how housing is built, according to proximity to transit, and provides for exemptions from local building codes. Read the bill here. Text from the bill:

This bill would authorize a transit-rich housing project to receive a transit-rich housing bonus. The bill would define a transit-rich housing project as a residential development project the parcels of which are all within a 1/2 mile radius of a major transit stop or a 1/4 mile radius of a high-quality transit corridor, as those terms are further defined. The bill would exempt a project awarded a housing opportunity bonus from various requirements, including maximum controls on residential density or floor area ratio, minimum automobile parking requirements, design standards that restrict the applicant’s ability to construct the maximum number of units consistent with any applicable building code, and maximum height limitations, as provided.

A recent 48Hills.org article reports on an analysis of this bill recently issued by the San Francisco Planning Dept. Read that here, including a map showing how it applies in SF. Read the Planning Dept document here.

Here is a recent SF Examiner piece: http://www.sfexaminer.com/senate-bill-827-raise-height-limits-throughout-sf-transform-city/ . From that:

“Senate Bill 827, authored by state Sen. Scott Wiener, D-San Francisco, could allow five- and eight-story buildings to sprout in neighborhoods that traditionally have seen mostly single-family homes and two-unit duplexes.”

Other articles available online by searching on ‘SB 827 housing’.   (more…)

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…according to Redfin, a real estate firm.  Read more about the ranking here on Redfin.com:  https://www.redfin.com/blog/2018/01/nine-out-of-redfins-10-hottest-neighborhoods-of-2018-are-in-san-jose.html

And here on the MReport: http://www.themreport.com/daily-dose/01-29-2018/top-10-hottest-neighborhoods-2018 And more: https://www.sfchronicle.com/business/networth/article/San-Jose-could-be-this-year-s-most-insane-12541492.php And another: http://sanfrancisco.cbslocal.com/2018/01/30/redfin-hottest-neighborhoods-san-jose-area/

2018_Redfin_survey-Hottest-Neighborhoods_Sunnyside

Screenshot from Redfin.com 

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