State Board of Equalization

Assessor Warns of Residential Assessment Errors if Split-Roll Initiative Passes

If voters approve Proposition 15 in November, residential property assessments are likely to become less accurate as assessors are forced to shift resources to determining market values of commercial and industrial properties, Los Angeles County Assessor Jeffrey Prang said July 23. Prang, testifying during a six-hour State Board of Equalization informational hearing on the split-roll initiative, noted that under Proposition 15, assessors would be required to assess all commercial and industrial properties within their jurisdiction at least every three years.…

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Los Angeles Skyline

State Board of Equalization: Los Angeles Assessor’s Office Reiterates Warnings About Split-Roll Initiative

Los Angeles County Assistant Assessor George Renkei addressed the board to reiterate some of the problems assessors will face if the split-roll initiative is approved in November. Renkei said the Assessor’s Office currently reassesses about 6,000 to 10,000 commercial or industrial properties each year because of changes in ownership. Under the split-roll initiative, the office would have to reassess approximately 59,000 such properties per year. This huge increase in workload would require the office to hire and train approximately 500…

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