SAN DIEGO, Calif. (CNS) - San Diego County sales tax revenues will come in about $45.3 million below estimates this fiscal year, and property assessments are expected to drop 2.3 percent, the county's chief financial officer said today.
The reversal is stark. Property tax rolls had risen an average of 8.6 percent each year over the past decade, CFO Donald Steuer told the county Board of Supervisors.
Steuer said assessed property values were expected to drop about 2.3 percent this year and 1.4 percent next year.
"Revenues are falling, or failing to keep pace, while expenditures are increasing," Steuer said.
Without improved earnings from the county's pension fund, county employees will need to increase their pension payments, he said.
Steuer said the county's economic picture was clouded by uncertainty over what portion of local taxes the cash-strapped state would return to the county.
Supervisor Dianne Jacob called it "a very sobering report" and predicted she and her colleagues would have to make some "tough decisions" in the days ahead.
In other action, the board voted to join other jurisdictions in an energy conservation energy pilot program for homeowners and businesses. Property owners will be able to pay for solar panels, insulation and other weatherizing measures, improvements over 20 years as part of their property taxes.
"This is really a significant step in forming a reasonable and long-term energy policy," Supervisor Ron Roberts said. "This could reduce in the long term the energy demands we have in San Diego County."
Increasing solar energy production will enable the county and utilities to meet government requirements for deriving a greater portion of their electricity from renewable sources, Roberts said.
The U.S. Navy commissioned its newest combat ship on Saturday, the USS Tulsa, which eventually will be docked in San Diego.
More than 150 current and former service members and their families gathered on the USS Midway on Saturday morning.
Dozens of people on Saturday fell victim to a brunch scam that was supposed to take place at the Del Mar Fairgrounds.
One person was shot and seriously injured outside a Kearny Mesa restaurant Friday night - sending diners running for cover.
A man who might have died trying to surf in a rain- swollen Escondido runoff channel on Valentine's Day has been identified.
A small private jet inbound to San Diego International Airport suffered primary brake failure but was still able to land safely on Saturday, officials said.
Weekend conditions are looking cool and wet. Stronger, colder system on Sunday will bring a chance of snow to San Diego mountains.
Six hundred active duty military and veterans will get a unique and intimate concert at the Belly Up on Monday February 18th.
On February 14, 2018, Aalayah Eastmond was in class at Marjory Stoneman Douglas High School in Parkland, Florida when a gunman opened fire.
A San Diego family received a sweet surprise on Valentine’s Day after a fellow diner unexpectedly paid their $52.75 Red Lobster tab and left a sweet note for the mother.