Sacramento County’s property tax revenue will increase again this year, as Assessor Christina Wynn announced July 26 that the annual assessment roll topped $179 billion, a 6.53 percent increase over last year.
After the deduction of property tax exemptions for homeowners, disabled veterans, and charitable organizations, the net assessed value is $170.3 billion.
“The 2019-20 assessment roll will generate approximately $1.7 billion in property tax revenue,” the Assessor’s Office said in a news release. “This year’s roll growth will yield an additional $100 million in revenue over last year. Property tax revenue funds over 175 local government agencies, including schools, special districts such as fire, park, and community service districts, as well as cities and redevelopment agencies. Property tax revenue is the largest source of money for Sacramento County’s General Fund.”
The seventh annual increase “reflects a steady volume of sale transactions, new construction projects, and continued market value increases in Sacramento County’s residential and commercial markets,” the Assessor’s Office added.
“While the total assessed value for the County increased by over 6 percent, the assessed value of most properties will increase a maximum of 2 percent due to the protections of Proposition 13,” Wynn’s release noted. “A majority of the roll growth resulted from new base year values established at current market levels for properties that have changed ownership or experienced new construction.”
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