SAN DIEGO (KGTV) — The San Diego County Tax Collector and Treasurer, Larry Cohen, announced the county will be gathering over nine billion dollars in property taxes this fiscal year, the first installment due by December 10th. While 80% pay their taxes online, according to the county, many were in office today to get their taxes paid.
While $9 Billion seems like a large number, much of that is due to property values increasing, rather than tax rates, given that San Diego’s tax rates are comparable to the rest of the country.
“It generally varies from parcel to parcel,” Larry Cohen said. “But its somewhere between one and 1.25 percent.”
San Diego County says 99% of payments are paid on time. Those who fail to pay the first installment by the deadline will be charged a 10% penalty fee on the installment.
If a property owner fails to pay both installments by the close of the fiscal year, which is June 30th, they will also be charged a $33 redemption fee and a 1.5% per month, or 18% per year penalty.
Property Taxes fund many county services, but primarily go towards schools, County services, city services, and the like. 0.7% of the funds will go towards the libraries in the County.
“The property taxes that our fellow citizens are paying for, pay for our schools, they pay for our libraries, they pay for our county operations,” Cohen said. “.. they go to pay fo rall of those very vital services that everyone in the county uses one time or another.”
