San Diego County's total assessed property value hit a record $806 billion, up 4.95% from last year, despite a 23% drop in home sales. Low housing inventory kept prices strong, driving steady land value growth. Property tax revenue reached $7.73 billion, funding schools and public services. Proposition 13 protected 92% of properties from large tax hikes, while Proposition 8 provided temporary tax reductions. Commercial property values declined slightly due to downtown office vacancies.
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