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San Diego County’s Real Estate, Other Taxable Property Assessed at $700 Billion

BusinessSan Diego County’s Real Estate, Other Taxable Property Assessed at $700 Billion

Downtown San Diego. Photo by Chris StoneDowntown San Diego looking east. Photo by Chris Stone

The San Diego County Assessor Thursday certified the 2022 assessed value roll of all taxable property in the county, a record $679.15 billion, 8.27% higher than the year before.

That represents a $51.8 billion gain in value and is based on assessed values as of Jan. 1, 2022. The state’s Prop 13 limited 888,884 properties to a 2% assessed value increase — intended to guarantee affordability for property owners and deliver revenue for government services.

The roll consisted of 1,011,214 real estate parcels, 55,071 business personal property accounts, 13,410 boats and 1,541 aircraft. The roll’s total net assessed value is $652.95 billion after deducting $26.19 billion for a record reduction resulting in more than $260 million in property tax savings for homeowners, disabled veterans, and charitable organizations, according to a statement from the county assessor’s office.

“While some assessor’s offices have struggled, my extraordinary staff closed the tax roll on time and complete,” said Ernest Dronenburg Jr., the county’s assessor, recorder and clerk. “If we don’t close the tax roll on time then county services will be interrupted, taxpayers impacted, and we would see a cascading effect that would impact revenues for operating schools, libraries, parks and other key emergency services.”

The property tax reduction outreach program, led by Chief Deputy Assessor/Taxpayer Advocate Jordan Marks, qualified 469,962 homeowners for $32.8 million and a record savings of $18.7 million in property tax savings for 12,760 San Diego County disabled veterans.

Marks also led outreach to affordable housing and homeless service providers that resulted in a record number of 5,254 nonprofit entities, saving more than $210 million in property taxes for organizations that provide affordable housing, senior low-income housing, homeless services, schools, churches, museums, and other charitable organizations.

“Thanks to Prop 13, no homeowner should lose their home due to unaffordable property taxes from the recent skyrocketing home prices,” Marks said. “At the same time, governments will receive record high reliable funding for the tenth straight year to deliver key services, like schools and first responders.”

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