News Summary
San Diego County’s property landscape is evolving, with the assessed value of taxable property reaching $806 billion, reflecting a 4.95% increase. While this growth is notable, it’s a slight dip from previous years. Challenges remain as the number of business properties declines and home sales see a significant drop. Homeowners continue to benefit from Proposition 13, and the median home price stands at $1,025,000. The county’s property tax auction in March offers a chance for tax-delinquent owners to avoid losing their properties.
San Diego – San Diego County’s property landscape is witnessing significant transformations despite ongoing economic challenges. The current assessed value of all taxable property has climbed to a substantial $806 billion, marking a 4.95% increase from January 1, 2024, to January 1, 2025. This growth, while notable, is slightly lower than the previous year’s increase of 5.58% and the 7.1% growth seen two years ago.
The stability of property values in San Diego County is significant, especially as it has experienced a general upward trend over the past 30 years, with only three declines occurring during the Great Recession of the late 2000s. Taxes generated from these property values are crucial for funding essential services such as schools, libraries, parks, and public safety initiatives.
Residential properties represent the largest portion of taxable land, totaling 1,020,253 parcels. In contrast, there are 55,478 business properties, alongside 15,162 boats and 1,562 aircraft scattered across the county. However, the number of business properties has decreased by 2.5%, resulting in the loss of 1,361 businesses. This decline cannot be solely attributed to the shift towards remote work, indicating deeper economic pressures affecting local businesses.
San Diego County has not fully rebounded to its pre-pandemic business tax figures; records show a drop in business properties from 57,699 in 2019. Meanwhile, homeowners are benefiting from Proposition 13, which limits annual property tax increases to a maximum of 2%. This legislation currently covers 92% of the county’s properties, providing some relief in an unstable market.
The Assessor’s Office has highlighted a 23% fall in home sales over the past year, marking the lowest volume since 2007. Despite this slump in sales, home prices have remained relatively stable, with only a 0.37% increase in housing prices noted as of May 2025. This situation is indicative of the complexities of the real estate market in the region.
In terms of assessed land value distribution, the city of San Diego leads with a total of $386 billion, while Imperial Beach and Lemon Grove report the lowest assessed values at $3.6 billion each. Notably, Poway has experienced the highest growth rate in land value at 6.72%, while Escondido’s growth is the slowest at 4%.
The recent increase in property values, recorded at 4.95%, indicates a steady change that diverges from previous years of volatility. The highest historical growth rate was 13.3% in 2005, shortly before values plummeted due to the Great Recession.
Trends in the housing market reflect a shift as San Diego’s market begins to cool. Inventory levels are rising, and prices have dipped recently, leading to a more balanced market after years of rapid appreciation. As of June 2025, home sales were down 3.9% compared to May, though there was a slight [0.7%] increase year-over-year.
The median home price in San Diego County has reached $1,025,000 as of June 2025, representing a decrease compared to prior months. The average fixed mortgage rate for homebuyers stands at approximately 6.74%, influencing affordability and buyer demand.
In the rental market, the median rent in July 2025 is $2,800, which is 44% higher than the national average. Rent prices vary, with a 1-bedroom apartment averaging $2,295 and a 2-bedroom averaging $2,928 in San Diego.
For homeowners facing tax difficulties, San Diego County’s 2025 online property tax auction will feature over 600 properties, open for bidding from March 14 to 19. Bidders are required to register and submit a $1,000 refundable deposit along with a $35 non-refundable processing fee. If all properties are sold at the minimum bid, the county expects to generate approximately $16.3 million in tax revenue. Property owners can avoid the auction by paying any owed taxes and fees before the deadline.
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Additional Resources
- MSN: San Diego County Properties Valued at Record $806 Billion
- Wikipedia: San Diego
- NBC San Diego: 600 Properties Up for Sale in Online Tax Auction
- Google Search: San Diego Real Estate Market
- 24/7 Wall St: Foreign Countries Owning American Land
- Encyclopedia Britannica: Real Estate
- CBS 8: Senate Republicans Propose Selling Federal Lands
- Google News: San Diego Property Tax Auction
Author: STAFF HERE SAN DIEGO WRITER
SAN DIEGO STAFF WRITER The SAN DIEGO STAFF WRITER represents the experienced team at HERESanDiego.com, your go-to source for actionable local news and information in San Diego, San Diego County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Comic-Con International, San Diego County Fair, and San Diego Pride Festival. Our coverage extends to key organizations like the San Diego Regional Chamber of Commerce and United Way of San Diego County, plus leading businesses in biotechnology, healthcare, and technology that power the local economy such as Qualcomm, Illumina, and Scripps Health. As part of the broader HERE network, including HEREAnaheim.com, HEREBeverlyHills.com, HERECostaMesa.com, HERECoronado.com, HEREHollywood.com, HEREHuntingtonBeach.com, HERELongBeach.com, HERELosAngeles.com, HEREMissionViejo.com, and HERESantaAna.com, we provide comprehensive, credible insights into California's dynamic landscape.
