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While recent reports from the real estate industry indicate that property values are skyrocketing, in many areas across the county posting double digit year-over-year increases, San Diego County Assessor Ernest Dronenberg’s office reported more modest numbers for the year last week, citing an overall change in value of just over three percent, resulting in a rise in assessed property value throughout the county of $13.6 billion, to a total $408.8 billion.

After considering various deductions such as homeowner and charitable exemptions, the county tax base stands at about $393 billion, resulting in an expected haul of about $3.9 billion based on a one percent tax rate, though various bond measures and fees drive the property tax rate closer to an estimated 1.25 percent for most area homeowners, before considering any Mello Roos or other special assessments.

While many homeowners successfully sought tax base reductions during the recent real estate crash, they’re now being hit once again with the maximum two percent increases in tax basis as allowed under 1978’s Prop 13 property tax measure.

Those adjustments to existing homeowners’ tax rates contributed to about $5 billion in additional value. Another $5.9 billion was added through re-assessments due to property sales, and the remaining $2.4 billion came from new construction, a sign that the long-dormant building industry is once again gaining steam.

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Good data. Reader is an amazing source of info.

July 4, 2013

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4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs
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