Assessor-Recorder Joaquín Torres Reminds Homeowners to Review Property Values Ahead of March 31 Deadline

SAN FRANCISCO, CA – Assessor-Recorder Joaquín Torres is reminding homeowners that the March 31, 2026, deadline is approaching to request a free Informal Review of their property’s assessed value for a potential 1-year temporary reduction for the upcoming fiscal year 2026-2027.

Property taxes are based on assessed value and State law allows for temporary reductions when the fair market value of a property dips below the assessed value. 

This service is provided at no charge and is available to property owners of a single-family dwelling, residential condominium, townhouse, live-work loft, or cooperative unit.

“If homeowners believe that their assessed value is currently higher than the market value of their home, they should submit an Informal Review,” said Assessor-Recorder Joaquín Torres. “The Informal Review process gives homeowners an accessible, no-cost opportunity to have their value examined before tax bills are issued.”

To request an informal review, you must submit your written request with supporting evidence of your opinion of value, including sales information and/or an appraisal performed by a licensed real estate appraiser to support your claim. The sales information or appraisal’s date of valuation should be as close to the January 1, 2026, lien date as possible, but no later than March 31, 2026.

There are multiple ways to submit your request, including via the Assessor-Recorder's new online portal, email, or postal service. The application form and additional details can be found on our website: www.sf.gov/apply-decline-value.

After submittal, the Office will review the property owner’s comparable sales and other market data, estimate the property’s market value as of the January 1, 2026 lien date per State law, and then compare this market value to the property’s current factored base year value (assessed value including mandated annual inflationary adjustment). 

If the January 1 market value is lower than the factored base year value, the assessed value will be lowered to market value for 2026. 

The results of the review will be available in the Notice of Assessed Value statement, which is mailed to property owners in July. The associated tax bill, issued in October 2026, will be based on the temporarily reduced value. 

Any reduction granted applies to the 2026 assessment year only. If market conditions improve and the property’s market value rises back to or above the factored base year value, state law does not permit the reduction to continue. Additionally, annual inflation adjustments required under Proposition 13 continue to apply, even during a temporary reduction.

If a homeowner disagrees with their 2026 assessed value, including after an Informal Review, they should exercise their right to file an assessment appeal application with the Assessment Appeals Board, an independent body administered by the Clerk of the Board of Supervisors during the fall filing period.