Los Angeles County’s property tax revenue will grow significantly this year, as the county assessment roll grew by a record $122 billion (6.95 percent) during the past year, Assessor Jeff Prang announced July 26.
County assessors this month continued to report growth in the value of taxable property in their areas, which will translate to more property tax revenue for schools and local government.
County assessors this week reported substantial assessment roll growth, indicating that local governments throughout the state will receive significant increases in property tax revenue this year even as individual property owners are protected by Proposition 13 from large annual tax hikes.
Property tax revenue for local governments in California increased 6 percent in 2021, the State Board of Equalization reported March 17 in its 2020-21 Annual Report. Statewide, the total value of county-assessed property was $7.1 trillion, resulting in $79.9 billion of local property tax levies, the BOE reported. “Those property tax levies contributed $43 billion to schools and $36.9 billion to local government,” the agency noted in a news release. “This is an additional $4.5 billion, or a 6 percent…
San Francisco Assessor-Recorder Joaquín Torres announced July 25 that San Francisco’s assessment roll value grew to a record $328 billion for 2021-22, an increase of 3.7 percent ($11.6 billion) over the previous fiscal year. “The 2021-2022 roll reflects the great work of my team, who successfully transitioned to remote work and continued to improve our ability to produce fair, accurate and timely valuations,” Torres said in a written statement. “It is an honor and privilege to lead an office that…
Assessors in four more counties have submitted their 2021 assessment rolls, and all reported year-to-year growth in the value of taxable property in their areas. Assessment roll value grew 4.19 percent in Fresno County, 3.35 percent in Napa County, 5.58 percent in Riverside County, and 6.5 percent in San Bernardino County. As of July 29, assessors in 18 of the state’s 58 counties had made their 2021 assessment rolls publicly accessible, and all noted increases from last year. The increases…
County assessors this month continued to report growth in the value of taxable property in their areas, which will translate to more property tax revenue for schools and local government. The Los Angeles County roll grew 3.7 percent, Assessor Jeffrey Prang reported July 15, marking the 11th consecutive year of growth in taxable values in the massive county. The 2021 roll grew $62.9 billion over the prior year to reach $1.76 trillion in total net value. Changes in property ownership…
It is the time of year when California’s 58 county assessors complete their assessment rolls and announce the total value of property subject to property tax – and Santa Clara County Assessor Larry Stone and Yolo County Assessor Jesse Salinas were first out of the box with announcements that their counties’ assessment rolls increased 4.6 percent and 4.45 percent this year, respectively, despite the pandemic. Santa Clara County’s assessment roll, which reports the total net assessed value of all real…
California voters continue to overwhelmingly support Proposition 13, the 1978 property tax limitation initiative, and would approve it by a wide margin if it were on the ballot again today, according to a poll released November 20 by Mark DiCamillo, director of the University of California at Berkeley Institute of Governmental Studies. The poll was taken in late October, before Californians voted to reject Proposition 15, the split-roll initiative on the November ballot that would have repealed Proposition 13 protections…
Contra Costa County will benefit from an increase in property tax dollars, as the assessed value of taxable property increased almost 5 percent from last year to this year, Assessor Gus Kramer announced August 7. “The increase to the local tax base for 2020-21 is nearly $10.5 billion,” Kramer wrote in a letter to the county Board of Supervisors. “This represents a 4.87 percent increase in assessed value and brings the total net local assessment roll to over $225.7 billion.…