For more than 40 years, Prop 13 has provided property tax certainty to homeowners, renters and businesses. Under Prop 13,
general property taxes for both residential and business properties are calculated based on 1% of the purchase price. Annual
increases in property valuations are capped at 2% per year, which helps provide certainty to homeowners and businesses that
they will be able to afford their property in the future.
The State of CA announced earlier this week that with the adjusted positive rate numbers falling under the key threshold, San Diego County would again stay in Tier 2, or “red” category.
Throughout the month of October, the County of San Diego has been on the bubble of falling back into the state’s most restrictive COVID tier (the color purple). Fortunately, due to plenty of testing, the adjusted numbers have continued to keep the County in the next tier up, being red.