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Greg Smith, the county’s assessor/recorder/clerk (any job title with two slashes in it is inherently cool) released the county’s most recent totals for assessed property values this morning. I’m kind of a dork, but I think these are some really interesting stats.
The county’s total assessed value is $391.4 billion dollars, about $33.5 billion more than last year. That number includes:
- 968,067 property parcels
- 159,213 businesses
- 69,941 boats
- 22,593 mobile homes (including those ones in Mission Valley) and
- 5,021 aircraft
Because of state Proposition 13, property values are only reassessed when a property is sold or a new building is constructed. New subdivisions and condos added 13,000 new parcels to the tax rolls this year, Smith said.
Chula Vista saw the largest increase — 14.22 percent — of any of the cities in the county, due largely to new subdivisions and commercial properties in Eastlake, Rolling Hills and Otay Ranch.
Smith’s office reassessed more than 11,500 residential properties to lower values because of drops in value, according to the release. “For all intents and purposes, this only affected properties purchased at the height of the real estate market in 2005/06,” according to Smith’s report.