San Diego County property values rise

The combined value of almost 982,000 assessed
properties in San Diego County rose 3 percent last year to $408.8 billion, the
county Assessor/Recorder/Clerk's office announced Thursday.

Minus various exemptions and deductions — such as for properties owned
by charities — the total taxable value will be $393 billion. The 1 percent
property tax should generate about $3.9 billion in revenue, county
Assessor/Recorder/Clerk Ernest Dronenberg Jr. said.

“The improved residential market required our office to partially or
totally restore temporarily reduced values as the market value on many
properties exceeded the values calculated pursuant to Prop. 13,” Dronenberg
said. “In addition, we experienced positive change in ownership and new
construction activity.”

He said all 18 cities in the county experienced property value growth,
with Del Mar haven't the largest climb at 6.8 percent.

The assessed value of the properties was of of Jan. 1, 2013. The growth
since New Year's Day 2012 was $13.6 billion, according to Dronenberg.

Property tax notices will be sent in the middle of next month, he said.

Categories: KUSI