Economy
San Francisco Property Owners Fight Their Taxes After Covid Cooldown
The city’s slow rebound has businesses appealing their assessed values.
The Transamerica Pyramid in San Francisco.
Photographer: David Paul Morris/BloombergSan Francisco is one of the biggest laggards among U.S. cities trying to bring back workers and revive their business districts. Now, some companies want their property taxes to reflect what could be a permanent reshaping of the one-time boomtown.
Dropbox Inc., fully embracing remote work, filed an appeal to have its building’s assessed value cut by half. The recent buyer of the iconic Transamerica Pyramid is seeking a 50% reduction in the tower’s taxable value. Even the vaunted Golden State Warriors aren’t immune: The developer of the NBA team’s arena wants to slash the complex’s assessed value by more than $1 billion.