County sees 11th straight year of record high growth, record high savings
SAN DIEGO – San Diego County Assessor, Jordan Z. Marks, certified the 2023 assessed value roll of all taxable property with a record-setting high of $727.48 billion, reflecting a 7.12% increase, or $48.3 billion, over the previous year. The 2023 assessment roll reflected unprecedented property tax savings of over $275 million for San Diego homeowners, disabled veterans, small businesses and charitable organizations. It is the 11th straight year the county assessor’s office has delivered record high revenue for key government services and record high property tax savings making San Diego more affordable to live and thrive.
“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 11th straight year to deliver key services like schools and first responders.
“The 2023 tax roll shows that San Diego County is the gold standard in fairness, transparency and putting taxpayers first based on a nearly 100% accuracy rating in our assessment practices from a state of California audit and 98.2% positive customer service rating,” he said.
The tax roll consisted of 1,013,632 real estate parcels, 55,888 business personal property accounts, 14,476 boats and 1,534 aircraft. The roll’s total net assessed value is $699.5 billion after deducting $26.19 billion for a record high tax reduction resulting in over $275 million in property tax savings for homeowners, disabled veterans, small businesses and charitable organizations.
Proposition 13 protected 91% or 923,068 San Diego properties by limiting their property taxes to a 2% assessed value increase – in accordance with California’s landmark legislation that limits property taxes on property owners while providing a stable and key source of revenue for local governments. The tax roll will result in approximately $7 billion in property tax revenue or 1% of net assessed value of $699.5 billion, to support key county, city, school, fire, water and other special district services.
“My extraordinary San Diego Assessor team showed leadership and put taxpayers first by taking on the additional 18,000 Proposition 8 reductions to deliver nearly $15 million in tax relief to homeowners while meeting our commitment of closing the tax roll on time and complete,” Marks said. “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 county assessor’s office applied Proposition 8 temporary property tax savings for 18,397 homeowners, saving them $14.1 million in property tax relief from a drop in the housing market.
Highlights from the 2023 assessment roll included a record high 15,469 disabled veterans and/ or surviving spouses, totaling a record high $24.4 million in savings for San Diego County veterans and their families; the city of Escondido realized the highest assessed value growth rate at 8.87%; the city of Del Mar saw the lowest growth rate at 6.20% and the city of San Diego had the largest value increase, adding $23.7 billion or 7.29%.
For additional information, visit http://www.sdarcc.gov or contact the assessor’s office at 619-236-3771.
Submitted by San Diego County Assessor’s Office.