Print
San Diego’s collective real estate portfolio is worth more than ever before, thriving instead of dying during a pandemic that introduced chaos and uncertainty into the market.
Tuesday, the San Diego County Assessor’s Office reported the assessed value of all taxable property in the county in 2021, as of Jan. 1, grew to a record-setting $627.25 billion. The sum includes residential, commercial and industrial land, and represents an increase of 3.72 percent over 2020. It also reflects property tax reductions for values affected by COVID-19 government restrictions.
The $22.5 billion, year-over-year bump in the county-wide property values, while less pronounced than last year’s 5.18 percent jump, continues the upward trajectory of the region’s expanding valuation following the Great Recession. The most values ever went up was in 2005, at the height of the housing boom, when the value of taxable property increased 13.3 percent.