San Diego 2023 Tax Roll Hits Record High $727 Billion–Up 7.12% & Record High $275 Million Tax Savings for San Diegans
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 last 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. This is the eleventh straight year the San Diego 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.
Assessor Jordan Marks noted, “Thanks to Prop 13, no homeowner should lose their home due to unaffordable property taxes from the recent skyrocketing home prices. At the same time, governments will receive record high reliable funding for the eleventh straight year to deliver key services like schools and first responders.” Marks concluded, “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.”
The 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.
Prop 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. Marks commented, “My extraordinary San Diego Assessor team showed leadership and put taxpayers first by taking on the additional eighteen thousand Prop 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 continued, “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.”
Highlights From the 2023 Assessment Roll
• Assessed property values hit a record high of $727 billion (an increase of $48.3 billion or 7.12%).
• Prop 13 protection applied to 91% or 923,068 properties, limiting their property tax increase to 2%. The 2% increase produced an additional $12,385,120,750 billion in assessed value.
• Taxpayers received a record high $275 million in property tax savings, including homeowners, disabled veterans, non-profits, and affordable housing and homeless service providers.
• San Diego County Assessor qualified 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.
• San Diego County Assessor is the #1 office in California for providing property tax relief to disabled veterans and their families.
• San Diego County Assessor’s office was the leading Assessor’s office in California that proactively applied Prop 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.
• City of Escondido realized the highest assessed value growth rate at 8.87%.
• City of Del Mar saw the lowest growth rate at 6.20%.
• City of San Diego had the largest value increase, adding $23.7 billion or 7.29%.
For additional information please visit www.sdarcc.gov or contact the Assessor’s office at (619) 236-3771.
Jordan Marks was elected San Diego County Assessor/ Recorder/ County Clerk in 2022. This is the first tax roll closed under Assessor Marks’ leadership. Jordan has served as the people’s taxpayer advocate having personally resolved over 1,000 customer care cases and implemented award winning community outreach and education programs having resulted in San Diegans saving millions in property taxes. Jordan is a Certified Property Tax Appraiser, a California licensed attorney, and is a certificated Cybersecurity executive from the University of San Diego.
SUMMARY OF TOTAL ASSESSED VALUE (GROSS) BY CITY
|City||2022 - 2023||2023 - 2024||% Change|
|Carlsbad||$ 41,611,063,400||$ 44,217,893,598||6.26%|
|Chula Vista||$ 38,066,457,809||$ 40,602,102,204||6.66%|
|Coronado||$ 11,325,561,863||$ 12,143,572,726||7.22%|
|Del Mar||$ 4,737,206,260||$ 5,030,806,589||6.20%|
|El Cajon||$ 12,223,586,752||$ 13,122,021,164||7.35%|
|Encinitas||$ 21,112,993,164||$ 22,429,198,187||6.23%|
|Escondido||$ 20,212,656,705||$ 22,005,743,516||8.87%|
|Imperial Beach||$ 2,972,762,354||$ 3,211,300,363||8.02%|
|La Mesa||$ 9,671,427,943||$ 10,353,489,019||7.05%|
|Lemon Grove||$ 2,960,352,118||$ 3,213,101,927||8.54%|
|National City||$ 5,363,921,991||$ 5,732,386,355||6.87%|
|Oceanside||$ 30,319,500,479||$ 32,459,650,107||7.06%|
|Poway||$ 13,170,557,194||$ 14,045,277,008||6.64%|
|San Diego||$ 325,988,612,918||$ 349,763,481,297||7.29%|
|San Marcos||$ 16,603,329,763||$ 17,836,292,783||7.43%|
|Santee||$ 8,247,064,915||$ 8,811,894,317||6.85%|
|Solana Beach||$ 6,297,728,633||$ 6,736,029,790||6.96%|
|Vista||$ 15,239,947,869||$ 16,437,364,616||7.86%|
|Total Incorporated Cities||$ 586,124,732,130||$ 628,151,605,566||7.17%|
|Total Unincorporated Areas||$ 93,025,641,428||$ 99,328,886,600||6.78%|
|Total San Diego County||$ 679,150,373,558||$ 727,480,492,166||7.12%|
NOTE: The values above are Gross Assessed Values. They do not
include deductions for Exemptions.