Home Worth Less? Pay More Taxes - NBC 7 San Diego

Home Worth Less? Pay More Taxes

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    Home Worth Less? Pay More Taxes
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    Property Taxes Rise Despite Falling Home Prices So you're home is worth less than half it once was -- but you're about to fork more over to the county for living in it. The county assessor's office predicts that property taxes will increase for about 75 percent of San Diego homeowners this year. As is the case every year, most owners' bills will go up 2 percent to reflect the current inflation rate. Unlike other years, of course, property values have dropped in most communities. The increase in taxes will mean about $91 million of additional income to the county, cities and school districts.

    So your home is worth less than half it once was -- you're still going to fork more over to the county for living in it.

    The county assessor's office predicts property taxes will increase for about 75 percent of San Diego homeowners this year.
       
    As is the case every year, most owners' bills will go up 2 percent to reflect the current inflation rate. Unlike other years, of course, property values have dropped in most communities.
       
    The increase in taxes will mean about $91 million of additional income to the county, cities and school districts.