Assessed property value in county increases 6.4% this year, report finds
County Assessor Tom Bordonaro Jr.
Assessor’s office releases annual report
– The annual report for the office of the San Luis Obispo County Assessor has been released this week. The report details data on taxable property within the county.
The total assessed value of all properties in San Luis Obispo County saw a significant increase over the past year, with a rise of $4,163,367,820 or 6.24% to over $71 billion. The assessment roll covers the period from Jan. 1, 2022, to Dec. 31, 2022.
Residential properties within the county have witnessed substantial value increases, according to the report, attributed to steadily rising real estate prices and the quick turnover of available properties for sale. Consequently, the decline-in-value assessment for certain properties has been adjusted to reflect the prevailing increased values, contributing to the growth in the assessment roll for 2023-24.
The business sector has also rebounded, as business property, commercial, and industrial properties have seen an increase in value. Total property tax revenue for 2022 exceeded $722 million.
The report also includes a look at how Proposition 13 continues to play a role in maintaining the affordability of housing in the region.
The full, 23-page report can be viewed here.
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