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Costs of Owning a Home in San Diego

Owning a home in San Diego can sometimes be far more cost effective than renting an apartment or house. Analysts have looked at trends in the housing market and seen that, due to the market bubble, mortgages can often be cheaper than rent after the down payment.

http://www.ziprealty.com/blog/san-diego-ca/owning-home-san-diego-can-be-much-more-cost-effective-renting-apartment

How the Property Tax System Works

When purchasing a home, after the deed is recorded, the Assessor determines the new assessed value. The Auditor applies the tax rates to the new assessed value to determine the amount of property tax owed. The Treasurer-Tax Collector mails the tax bills & collects payments.

How Property Taxes are Calculated

  • 1% Base tax (the full cash value of the property).
  • Voter Approved Bonds
  • Fixed Charge Special Assessments
  • Mello-Roos*

*This District is an area where a special tax is imposed on real property within a Community Facility District (CFD). The CFD sells bonds to finance public improvement, and special taxes you pay are used to make payments of principal or interest on bonds, and are collected Annually.

 When are Property Taxes Due

The first installment of secured property tax is due on November 1st. The bills are mailed in the beginning of October. Sometimes escrow may pay some taxes owe.

 For More Information

http://www.sdtreastax.com/homeowners-property-tax-guide/