The value of land in San Diego County continues to tick up, despite economic and real estate pressures.<\/p>\n
San Diego County\u2019s assessed value of all taxable property \u2014 including residential, commercial and industrial land \u2014 is now $806 billion, the Assessor\u2019s Office recently said. That is an increase of 4.95% from Jan. 1, 2024, to Jan. 1, 2025. It was down from a 5.58% jump last year,<\/a>\u00a0and 7.1% two years ago.<\/a><\/p>\n The value of San Diego County land has climbed almost every year for 30 years, except for three decreases during the Great Recession in the late 2000s. Taxes are used to pay for schools, libraries, parks, public safety and other government services.<\/p>\n Residential properties make up the vast majority of taxable land in the county with 1,020,253 parcels. They are followed by 55,478 business properties, 15,162 boats and 1,562 aircraft.<\/p>\n One wrinkle in this year\u2019s data is the number of business properties decreased by 2.5%, or a loss of 1,361 businesses. That includes a variety of businesses: restaurants, offices, hotels, bars, biotech spaces, manufacturing facilities and basically any type of operation with a physical presence. San Diego County Assessor Jordan Marks said it\u2019s a noticeable enough decrease that it can\u2019t be explained away with work-from-home trends.<\/p>\n San Diego County has yet to match its pre-pandemic tax rolls for businesses. There were 57,699 business accounts in 2019, dropping 2% in 2020 and 5% in 2021. The number had been steadily increasing 1% to 2% each year before this slowdown.<\/p>\n In positive news for San Diego homeowners, they are still seeing the benefits of Proposition 13, which limits annual property tax increases to 2%. The 1978 law covered 92% of county properties this year.<\/p>\n \u201cThanks to Proposition 13,\u201d Marks said, \u201cno homeowner should lose their home due to unaffordable property taxes.\u201d<\/p>\n