Property values in county down slightly

SAN DIEGO – San Diego County Assessor Ernie Dronenburg announced last week that the 2012 assessed value of all taxable property has decreased 0.14 percent (or $568 million) from last year. This year’s total assessed value is $395.1 billion. After deducting tax exempt properties (charitable, homeowners, disabled, etc.) the net taxable assessed value is $380 billion, and based on a 1 percent tax rate it would produce approximately $3.8 billion in property taxes.

“At least three major elements influenced the roll value for 2012,” Dronenburg stated. “The continued soft real estate market especially in owner occupied residential negatively influenced the roll. Offsetting the negative elements somewhat were changes in ownership and new construction activity and the positive indexing factor on Prop 13 values.”

This year’s California Consumer Price Index (CCPI) was at the maximum allowed by Prop 13 (2 percent). Indexing added just under $4.8 billion in assessed value. Changes in ownership of parcels added $4.8 billion. New construction activity added $1.9 billion to the roll. Partially offsetting these increases were over 101,021 parcels that were reduced in value due to the market value being lower than assessed value calculation pursuant

to Prop 13.

In addition to the 980,654 taxable parcels on the secured tax roll, the county also values business personal property and boats and aircraft. During 2012, 59,775 businesses, 14,105 aircraft and 1,756 boats were valued for the tax roll.

“For the taxpayers that have been granted a temporarily reduced assessment, their notices of reductions will be mailed in mid July,” Dronenburg stated. Those who disagree with their assessed values and can support a lower value may file an Assessment Appeal Application before November 30. Application forms are available from the Clerk of the Assessment Appeals Board at (619) 531-5777 or from the website at

http://www.sdcounty.ca.gov/cob.