County property values top $543 billion

County property values top $543 billion
Courtesy photo

REGION — San Diego County’s 2018 property assessment roll valued all taxable property at $543.6 billion, county Assessor/Recorder/Clerk Ernest Dronenburg announced Friday, June 29.

The assessment is based on data from calendar year 2017, and represents a 6.11 percent increase over the previous year’s figures.

After property tax exemptions for homeowners, disabled veterans and nonprofits, the county will draw roughly $5.21 billion in tax revenue to fund schools, law enforcement, parks and other public services.

This is the fourth consecutive year the assessment roll has increased more than 5 percent, partially due to growth in the housing market, Dronenburg said.

“In addition to the strong real estate market, the assessed business property value increased by 5 percent, to just over $18.2 billion, setting a new record for San Diego County,” he said. “The increases to the business roll are strong indicators that business owners are optimistic about the local economy and are making capital investments in property and equipment.”

The city of Imperial Beach had the highest growth rate of 10 percent, while the city of San Diego had the largest value increase of $15.8 billon, or 6.4 percent.

The city of Poway, meanwhile, had the lowest growth rate with 4.94 percent.

Overall, this year’s assessment roll consisted of 998,298 real estate parcels, 57,973 businesses, 13,018 boats and 1,510 aircraft.

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