The gross assessed value of all taxable property in the San Diego region as of Jan. 1 was $483.1 billion, a 5.6 percent increase over last year, county Assessor Ernest Dronenburg announced Tuesday.
Once exemptions were figured in for charities, disabled veterans and the like, the total was $463.6 billion.
“This is the fourth consecutive year that the county has experienced growth in the assessment roll,” Dronenburg said.
“This is a testament to the strength of our local real estate market and a sign that our county continues to recover from the prior market downturn,” he said. “For the third straight year, each of the county’s 18 cities experienced positive assessed value growth.”
He said the city of Imperial Beach realized the highest growth rate at 8.5 percent. The city of San Diego had the largest numerical increase, adding $12.5 billion in value.
Based on Proposition 13’s statutory 1 percent tax rate, the assessment will produce around $4.63 billion in tax revenues, according to Dronenburg.
He said the 2016 assessment roll consists of 989,089 real property parcels, 58,821 businesses, 12,933 boats and 1,683 aircraft.
–City News Service