San Diego Property Tax Rates

How Are Property Taxes Calculated?

Property taxes provide a major source of income for the state of California, as such they are carefully calculated into a percentage. Typically a mill levy as well as the assessed property value are used to calculate the property tax rate for a home in San Diego. It is important to note that the mill levy refers to the tax rate that is levied on your property value. Additionally one mill represents one tenth of one cent. For example, one mill is equal to $1 of $1,000 of assessed property value. Each levy is calculated for the tax jurisdiction; the levies are then added together and the total mill rate is acquired. The final property tax is calculated by taking the mill levy figure and multiplying it by the assessed value of the San Diego home. The assessed value of the California property is assigned by an assessor via three possible calculations, including the sales value of the home, how much it would cost to replace the property, or how much you would make if you rented the home.

How Do Property Taxes Work For San Diego County?

San Diego County property taxes are something that you should consider when you want to purchase a home. In fact, the local property tax rate is often something that first time homebuyers will accidentally overlook as they begin their journey towards owning a home. At Sloan Realty Group, we want you to be able to comfortably afford your dream home in San Diego, which is why we encourage you to ask us about the property tax rate for the area that you want to buy a home in. Once you you have a better understanding about your future San Diego property taxes, you can use our mortgage calculator to best determine your monthly payments.

It is important to keep in mind that property taxes in San Diego can be split into one or two payments. If you choose to split your payments, then the first portion will be due on November 1st, or as a late payment on December 10th. The Second payment will be due on February 1st or late on April 10th. Working with a trusted financial lender will help you to best determine what payment schedule is suited to meet your economic needs. To learn more about San Diego County tax rates, or to clearly understand when payments are due and when they are considered late, we invite you to visit our blog and read the post San Diego Real Estate Taxes Due.

City of San Diego Code Tax Rate
Carlsbad 09000 1.05633%
Chula Vista 01265 1.11549%
Coronado 02002 1.04909%
Del Mar 11001 1.02625%
El Cajon 03001 1.20225%
Encinitas 19006 1.05817%
Escondido 04013 1.14568%
Imperial Beach 14018 1.14721%
La Mesa 05003 1.17013%
Lemon Grove 15012 1.20896%
National City 06045 1.13115%
Oceanside 07000 1.09950%
Poway 17171 1.09957%
San Diego 08001 1.17432%
San Marcos 13066 1.09399%
Santee 16007 1.16388%
Solana Beach 18005 1.02625%
Vista 12236 1.07302%

Proposition 60 vs. Proposition 90: What Do You Need To Know?

Proposition 60 and Proposition 90 are two important entities that buyers should understand before they purchase a California home. Proposition 60 legally allows homeowners to transfer the base-year property value within the same California county. On the other hand, Proposition 90 allows the transfers to occur from one California county to another.

California homeowners are eligible for a Prop 60 / 90 if they are able to prove that they meet the following criteria.

  1. The homeowner or the spouse residing with the homeowner must have been of at least 55 years of age when the original property was sold.
  2. The identified replacement property needs to be the homeowner's principal place of residence. Additionally, the replacement property must be shown to be eligible for the "homeowners' exemption" or "disabled veterans' exemption."
  3. The current market value on the original property must be of equal or lesser value than the replacement property. It is important to note that the term "equal or lesser value" applies even if the owner of the original property chooses to purchase a partial interest in the replacement property. Finally, homeowners of two qualifying original properties are not allowed to combine the values of those California properties to qualify for a Prop. 60 base-year value transfer to an identified replacement property that has a greater value than the more valuable of the aforementioned two original properties.
  4. Before or after the sale of the original property, the replacement property must be built or purchased within two years.
  5. The homeowner's original property needs to have been eligible for either homeowners' or disabled veterans' exemption when it was sold or within two years of the purchase (or construction) of the identified replacement property.

In addition to the above criteria, it is important to note that the original property will have to be reappraised to establish its current fair market value at the time of its sale. However, a reappraisal does not need to occur if the buyer(s) of the original property also qualify the property as their own replacement property for a base-year value transfer due to disaster relief or for use by severely or permanently disabled person. As such, most transfers between parents and children will not qualify.

Finally, it is important to note that Prop 60 / 90 is a one-time only benefit. After a homeowner has filed and received this tax relief, he or she (or their residing spouse) cannot file for Prop 60 / 90 again. The only exception to this one-time benefit rule is if the homeowner becomes disabled after receiving the tax relief. In conclusion, Prop 60 / 90 is an important tax relief program that can provide great assistance to qualifying California homeowners.

Have Questions?

The above information is deemed reliable but not guaranteed. For more San Diego property tax information, visit www.sdtreastax.com.