San Francisco : State Data and Comparisons : Data-Z

San Francisco, CA

TIA Data

2023 Financial State of San Francisco (Released 02/27/2024)

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San Francisco owes more than it owns.

San Francisco has a -$12,800 Taxpayer Burden.™

San Francisco is a Sinkhole City without enough assets to cover its debt.

Decisions by elected officials have created a Taxpayer Burden™, which is each taxpayer's share of city bills after its available assets have been tapped.

TIA's Taxpayer Burden™ measurement incorporates all assets and liabilities, including retirement obligations.

San Francisco only has $14.4 billion of assets available to pay bills totaling $18.4 billion.

Because San Francisco doesn't have enough money to pay its bills, it has a -$4 billion financial hole. To erase this shortfall, each San Francisco taxpayer would have to send -$12,800 to the city.

San Francisco's reported net position is inflated by $1.2 billion, largely because the city defers recognizing losses incurred when retirement liabilities increase.

The city's financial report was released 182 days after its fiscal year end, which is considered untimely according to the 180 day standard.