San Diego County’s tax assessor certified and closed the 2020 value roll of all taxable property in the county Wednesday with a record-setting value of $604.75 billon.
The total reflects an increase of 5.18% — or $29.78 billion — over last year. The 2020 assessment comprises 1,004,808 real estate parcels, 56,689 business personal property accounts, 13,444 boats and 1,554 aircraft, according to Assessor Ernest J. Dronenburg Jr.
The county’s net assessed value is $581.53 billion after deducting $23.22 billion from a record high reduction of property tax due to exemptions that saved over $230 million for homeowners, disabled veterans and charitable organizations.
“The 2020 property tax roll reflects a robust real estate market as of the state-mandated January 1, 2020 valuation date,” Dronenburg said. “Properties impacted by COVID-19 will have their values reflected in the 2021 assessment roll per state law; however, my office is proactively working to provide relief to COVID-19 impacted taxpayers.”
The taxpayer advocate outreach program with the exemption teams qualified more than 480,000 homeowners for more than $36 million in savings from the homeowners’ exemption. Additionally, it saved 10,108 San Diego County 100% disabled veterans more than $14 million in property taxes using the disabled veterans’ exemption and qualified more than 5,000 welfare institutions such as schools, churches, museums and non-profits for property tax relief savings of $230 million.
“The 2020 property tax roll highlights the genius of Proposition 13 delivering on its two key promises that property owners can budget for their predictable limited property tax increases that make homeownership achievable, while delivering government a reliable and predictable revenue source for funding key services, like schools and first responders,” Dronenburg said.
“Without Proposition 13 many homeowners and seniors on fixed incomes would have seen their property taxes double or triple within the last few years causing them to potentially lose their homes in order to pay their property taxes.”
— City News Service
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