I just got my San Diego County property tax bill for this fiscal year (2019-20). It’s instructive — in a bad way.
Many Californians think that property taxes are limited to 1% of assessed value. That “assessed value” is allow to increase annually by the cost of living — or 2%, whichever is less.
But the 1% is just the BASE property tax. Added to that are miscellaneous other taxes. By going online, I got a full list of what items my property tax payment is for. Oh my!
When a school or water bond is passed, that is a tax to pay for a SERIES of bond issues. In our case, we are paying taxes for FORTY-FOUR bonds issued by various school districts. Your bill in the mail gives you a summary of those bonds, but not the details.
Then there are the special districts — street lighting, mosquito control, “MWD water standby charge,” etc., etc. We have six such charges on our bill.
Because of a new voter-approved school bond, my overall property tax bill is 6.9% higher than last year — not “2% or less” as most people think it is. Apparently passing all these school bonds for… Read More