We talk about the advantage for buyers to purchase in a real estate market that, even in San Francisco, has seen prices soften and decrease. However, all this may be a silver lining for those who already bought property in the last few years. All of us who own in San Francisco get a yearly tax bill where the assessment goes up automatically by 2% a year based on the price originally paid (or the assessed value in 1976 when Prop. 13 passed). Buyers who purchased a home in the last two or three years are receiving tax bills that have increased 2% each year, even though their more recent neighbors just paid less than they did. The silver lining is that those neighbors? purchases are the ?comparables? that you can use to appeal your property tax assessment. Last year, for the 2009-2010 tax year, there were 4,400 requests filed with the City Assessor?s office for an informal review of property taxes. As of Jan. 4, 2010, San Francisco residential property owners can file for an informal review for the 2010-2011 tax year. To file for a review of your property tax, just complete an application or submit a request here. There?s still time; the deadline is March 31, 2010. Last year I helped several recent buyers with comparables for their appeal. Several were denied but several received a 10 percent tax cut. Give us a call if we can answer your questions.