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Average home price in San Luis Obispo County now over $900,000

November 24, 2024

By KAREN VELIE

With a 5.03% increase in property values during the past fiscal year, the average price for a home in San Luis Obispo County is now $901,111, according to a SLO County Assessor’s Office annual report released Sunday. Ten years ago, the median home price was $477,308, or about half of what is is today.

The total assessed value of all property in San Luis Obispo County increased last year by $3,580,404,235 for a total of $74,758,605,728. Changes in ownership, inflation and new construction were the largest factors leading to the increased value.

Where assessed values increased the most:

San Luis Obispo, up 6.7%

Paso Robles, up 6.4%

Atascadero, up 5.3%

Grover Beach, up 5.4%

Morro Bay, up 5.4%

Pismo Beach, up 5%

Arroyo Grande, up 4.4%

San Luis Obispo County unincorporated, up 4.3%

Where do the taxes go?

During the 2024-2025 fiscal year, the county is slated to collect $756,987,321 in property tax. Of that, 61.4% goes to schools, 24.3% to the county general fund, 7.2% to cities, 3.85% to local districts and 3.20% to redevelopment agencies.

 


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There are always tax hungry politicians trying to do away with Prop 13. Those of us who are now nearing retirement age or are retired scrimped and saved and did without any extravagances so we could purchase homes in the 70’s 80’s and 90’s. We must be ever vigilante that Prop 13 is not taken away. Besides property taxes, the cost of homeowners insurance has become astronomical. With insurance companies fleeing the state, the California Fair Plan is sometimes homeowners only option. I know people who live in rural areas whose insurance has quadrupled in the past year. If you are a renter, please don’t blame your landlord for being evil. But with Newsom gone in 2 years, no doubt the California’s problems will all go away when the Califonians’ vote in Kamala to save the day.


1

Prop 13 was made law at a time when housing prices were reasonable. At that time, the 1% property tax number was reasonable. Now that housing prices are insane, it’s time to rethink that 1%. The 1% effectively creates a windfall for county government. Even though property taxes support things like schools, I don’t see schools getting any better or teachers being paid more. The cost of housing has easily outpaced inflation. The result I see in schools and local government is way too many over-paid and underworked administrators. To make housing more affordable and to deal directly with the cost of housing, we need to either change that 1% number to something lower such as 0.5%, or at the very least, phase in the 1% number over 5-10 years.


26

The US dollar has a lower value and that is why things cost more; housing cost are up everywhere for this reason. If you think the economy is doing good, then you could easily say that the homeless, correction unhoused, are doing better because their housing costs remain the same. PC has become a problem too because we are now funding the consequences and need more taxes with no benefit to the working class.


22

In rough numbers a $900k house has ±$800 in property taxes monthly.


What’s the average monthly rent in SLOCo, $2500?


Does that mean 33% of the rent I pay is really just taxes, and not evil landlords buying airplanes?


44

Prop 13 is part of the problem – new buyers pay high property taxes while neighbors who have owned for decades pay comparatively nothing. The solution is of course even simpler – demand has been outstripping supply since the 1970s, which means prices are artificially high. Deregulate, allow for more construction to supply a healthy buyer and rental market.


-27

Fire sprinkers – required.

Affordable heating – banned.

Solar panels – required.


I’m going to build my own house…oh wait, that’s banned, too.


Then local municipalities run short on money due to indiscriminate spending and put sales tax increases on the ballot and idiots vote “yes” in majority fashion. Wake up!


28

L.B.J.: Prop 13 may be part of “A” problem, but not the problem I was trying to point out. The problem I was trying to point out is the the gubmint is as responsible as my landlord for my monthly shellacking.


12

I have owned for over two decades and the property taxes on my “cheap” house certainly are far from nothing. They still go up, despite prop 13, and additional bonds are added too. If it wasn’t for prop 13, taxes would be close to my mortgage payment by now and I would probably have to move out of the area.


27

Are you saying that those of us who actually bought homes in the 70’s should now get screwed?


0

And they need to increase sales tax BS!


69

Sales tax increases are being done by cities who get almost none of the revenue from property taxes – it’s very clear in the pie chart in the article.


4

Municipalities don’t spend our money efficiently. Talk to any fire captain about what happens when they don’t spend all of their departments’ allotted funds.


18