There are five cities in San Diego County that experienced an increase in property tax revenues in the fiscal year ending in June 2009 despite the county’s assessed value being down 2.3 percent overall.
Del Mar, Coronado, Solana Beach, Poway and Encinitas are the only five cities in the county that have experienced growth, according to County Assessor David Butler. “They’re the ones you’d expect — coastal cities and other well-off areas,” he said.
Del Mar and Coronado had the most growth at 5.75 percent and 5.11 percent, respectively. Solana Beach, Poway and Encinitas all grew by less than 2 percent each.
Unlike much of the county, the five cities have had relatively stable home values and few foreclosures.
Additionally, their city governments have not had the same sort of financial issues seen in other cities within the county.
As the city of San Diego faces a deficit of $179 million, some of these cities have been able to produce a surplus, even if it is small.
In Poway, the 2008-09 budget ended with a $320,000 surplus, which Poway City Manager Rod Gould said was due to making cuts with “a scalpel rather than a meat cleaver.”
He said citizens would not likely notice most of the cost-saving strategies the city employed, though they may see slightly lower park maintenance or have to wait a little longer at the permit counter.
“The reason we’re doing a little better than most (other cities in the county) is because we saw this coming three years ago,” he said.
Our friend Kingside contributes this data received while attending a recent Butler speech:
# of NODs/# of NOTSs/Prop Tax Reviews/Total County Assessed Values/% chg/Total Supplemental Taxes
|Year||NODs||TDeeds||Tax Reviews||Asd Value*||Inc/Dcr||Sppl Tax|
* in billions
The changes in assessed values (shown in supplemental taxes) must be particularly volatile these days. Properties sold at peak are having their assessed values reduced 20% to 50%, while at the same time the sales of long-time-owned properties are causing increases in similar amounts.