By Karen Billing
The Rancho Santa Fe Association board of directors set the 2014-15 assessment rate at its Oct. 2 meeting.
The rate was established at 14 cents per $100 of assessed valuation per the San Diego County Assessor’s roll. Of the 14 cents, 11.5 cents is applied to general services and 2.5 cents toward the Community Enhancement Fund.
The total valuation for all Covenant properties per the July roll was $4,128 billion. This represents a 3.74 percent increase over last year’s accessed valuation, according to Steve Comstock, Association chief financial officer.