Record Number of S.D. Homeowners will Pay Less in Property Taxes
Thursday, June 18, 2009
SAN DIEGO A record number of San Diego homeowners will pay less property tax this year. KPBS Reporter Dwane Brown says its a bigger loss than the County Tax Collector anticipated.
During the housing boom a few years ago property taxes soared in San Diego County. But you know the saying about what goes up. Here's County Assessor David Butler.
"We think we're going to have about 215,000 properties that are going to be reduced this year," says butler. "How does that compare to last year? Last year we had about 88,000 reduced. Our record prior to this had been in 1996 when we had 200,000 reduced.
Butler says the average home owner will see a tax cut of about $1,100 this year. A bigger hit than what the county expected. Butler thinks it's a one-time event, but it's too early to tell.
For the first time ever, property values dropped more than two percent this year. Homeowners will receive the official notice by mid-July if their property tax was reduced.