SLO County property values reach all-time high

July 17, 2014

houseThe total assessed property value in San Luis Obispo County has reached an all-time high of $43.6 billion. [Tribune]

County property values are up 5.81 percent from 2013. The increases in home equity means property taxes will also increase for many homeowners.

The county assessor’s office will collect $436 million in property taxes this year. Property taxes amount to 1 percent of assessed values.

A majority of the revenue raised from property taxes goes to local school districts. The school districts receive 62 percent of the property taxes, while the county general fund gets nearly 25 percent of the revenue.

Property values previously peaked in 2006, then dipped sharply during the following recession. During that time, the assessor’s office reduced assessment values in the county by a cumulative total of $5.1 billion.

Assessment value have increased, though, for the past few year as the real estate market has picked up.

Proposition 13, passed by California voters in 1978, limits yearly property tax increases to 2 percent hikes in most circumstances.


27 Comments

  1. GoneBabyGone says:

    Gee! I guess the rise of homeless population in our county has had a positive effect on our property values rather than the negative one everyone seemed to predict? No? Well, I guess the silliness in either conjecture is apparent, now….

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  2. leatherpink says:

    It’s not forget the property tax is 1.2% in San Luis Obispo, not 1% like the rest of SLO county they pay only 1%.

    Like or Dislike: Thumb up 4 Thumb down 1

  3. womanwhohasbeenthere says:

    Well put. Now the city of San Luis Obispo wants to assess Laguna Lake area residents $10 million to dredge Laguna Lake – $1000 for lakefront homes and $400 for the rest. Funny when it flooded in March 1994 I didn’t see any city workers helping local residents cope with their losses because the CITY didn’t maintain the lake. I guess that is the precedent for this property tax AKA fee.

    Add that to your tax bill along with the Cuesta College and San Luis Coastal USD bond assessments coming up, and before you know it, Prop. 13 will be just a distant memory.

    Atascadero and Grover Beach also have bond measures coming up. Don’t think you are getting off scott-free!

    Vote NO on everything. Put your family first before government!

    Like or Dislike: Thumb up 14 Thumb down 1

  4. OldLeatherSpurs says:

    The Assessor’s office does not collect Taxes. The Tax Collector does have that duty.

    Like or Dislike: Thumb up 9 Thumb down 0

  5. smiley says:

    Those sleazy scumbag legislator criminals passed the fire tax and called it a fee. There will be more of this because government has become something that only serves the wealthy and public servants are anything but. They serve themselves and whoever can do for them. Prop 13 is in the process of being demolished by these crooks

    Like or Dislike: Thumb up 16 Thumb down 1

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