Home prices drop again in San Joaquin County

–More than 90,000 San Joaquin County residents will have lower property tax bills, a byproduct of the housing crash that has left owners in houses worth less than their mortgages and has prompted local governments to make drastic budget cuts to make up for tax revenue losses.

The San Joaquin County Assessor’s Office announced Monday that the total value of the 2010-11 county tax roll has dropped 3.9 percent, to just over $53 billion. The decline is not as severe as the nearly 11 percent drop in value a year ago.

“It’s still declining, but it’s not nearly the free fall we saw a year ago,” county Assessor Ken Blakemore said.–


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