The City values Chase Center and its surrounding developments at $1.7 billion. The Warriors are asking them to decrease that to $706 million — which would save them $11.6 million in taxes.
The team won its seventh NBA Championship and was named Forbes’ most valuable NBA franchise, thanks in part to a glistening new arena in Mission Bay estimated by the publication to be worth $2.2 billion.
The Warriors are not the only deep-pocketed property owner in San Francisco looking to lower their property tax bill, a trend that could have serious consequences for The City's budget. In this analysis, The Examiner looked at real estate property tax assessment appeals filed for the 2022 tax year on parcels that, according to The City Assessor's Office, constitute the Chase Center complex. The estimated potential tax savings were calculated by taking the difference between The City's assessed value and the Warriors' requested assessment, and multiplying the result by The City's 2022-2023 property tax rate of 1.1797%.
Sports betting website Bookies found that, out of every team in the NBA, the cost to see a Warriors game was the highest. Four tickets will cost a fan about $570, according to the analysis.Chase Center is a core piece of the Warriors’ identity as a franchise. When it opened in 2019, the team touted how the arena’s construction was privately financed and on privately owned property.
To that end, the Warriors are far from the only show at the Chase Center. According to its website, the arena hosts about 200 events a year.
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