Property values increase statewide

SACRAMENTO - Following two consecutive years of declining assessed values, the total value of state- and county-assessed property rose to $4.3 trillion for 2011-12, an increase of $11.6 billion (0.3 percent) from the previous years, state officials announced.Thirty-eight counties experienced year-to-year declines in value, with Piumas the only county declining by more than five percent. For the third year in a row, declines in assessed values were especially concentrated in the state's Central Valley. Values dropped by 2.9 percent in the Greater Sacramento Area, and declined 2.7 percent in the North San Joaquin Valley. The valuation in California's 15 coastal counties gained 0.9 percent. The increase in the San Francisco Bay area was 0.3 percent, in line with the statewide figure. Of the 12 counties with rolls exceeding $100 billion, seven counties posted an increase in assessed value, while values in five counties fell. Values increased in the counties of San Mateo and Orange (1 percent), Santa Clara (0.9), San Francisco (0.5), San Diego (0.4) and alameda (0.1). Los Angeles County, with the largest assessment roll at $1.079 trillion, increased by 1.4 percent, up $15 billion over 2010-11.

********** Published: September 08, 2011 - Volume 10 - Issue 21