header image

[Sign Up Now] to Receive Our FREE Daily SCVTV-SCVNews Digest by E-Mail

Inside
Weather
Santa Clarita CA
Sunny
Sunny
90°F
 
Calendar
Today in
S.C.V. History
July 29
1983 - U.S. release of "National Lampoon's Vacation;" Magic Mountain is Walley World [story]
Chevy Chase and Magic Mountain crew


Los Angeles County Assessor Jeff Prang has certified the 2018 Assessment Roll, which indicates growth in real estate and business property values and record-setting tax savings for homeowners, nonprofits and faith-based organizations.

The roll value of $1.57 trillion (gross) and the $80 billion in business property have set new highs for the county, as have tax-saving exemptions, which topped $59.8 billion.

“Los Angeles County’s economic base is strong and continues to be on an upswing,” Prang said. “The appreciation of real estate for the 8th consecutive year, coupled with optimism in the business sector, means additional resources will be available for education, public safety, firefighting efforts, health services, and transportation.”

The leading indicators in the roll’s increase are: a) sales and other transfers of real estate, which added $47.6 billion as compared to 2017; and b) new construction, which added another $11 billion. The combination of these and other factors yielded a net increase of 6.62 percent – the greatest growth in values since prior to the 2008 recession.


However, the Assessor also emphasized that the average growth in assessed values across the county does not mean property owners will be subject to a corresponding increase of 6.62 percent on their property tax bills. Existing homeowners will see only the standard 2 percent annual adjustment for inflation, pursuant to protections set out by Prop. 13.

Assessor Prang’s proactive efforts to promote savings for seniors, veterans, disaster victims, and homeowners has resulted in record-setting tax reductions. This year, over 1 million will claim the Homeowner Exemption, and a record number of veterans will save through the Disabled Veteran Exemption – a total of $7.74 billion that will be exempt from taxation, saving $77 million.

Likewise, non-profit, community service, and faith-based institutions will see a record $52 billion in exemptions, producing $521 million in savings.

Another indicator of the growing economy and business optimism is the record-setting $4.53 billion (or, 5.9 percent) increase in business personal property. This reflects record growth in investment in equipment and technology as well as marine vessels and aircraft. The resulting $80 billion in business property is another new high for Los Angeles County.

The 2018 Assessment Roll comprises 2.57 million real estate parcels and business assessments, including 1,874,588 single-family residences, 249,660 residential-income properties, 248,198 commercial/industrial properties, and 205,204 business properties.

In his announcement, Prang said: “I want to thank my team for their diligent efforts to ensure fair and accurate assessments, which serve as a foundation for vital local public services that will directly benefit Los Angeles County’s residents and businesses and improve quality of life in our neighborhoods.”

Comment On This Story
COMMENT POLICY: We welcome comments from individuals and businesses. All comments are moderated. Comments are subject to rejection if they are vulgar, combative, or in poor taste.
REAL NAMES ONLY: All posters must use their real individual or business name. This applies equally to Twitter account holders who use a nickname.

0 Comments

You can be the first one to leave a comment.

Leave a Comment


Latest Additions to SCVNews.com
The Los Angeles County Development Authority (LACDA) is proud to announce the launch of its new website.
L.A. County Development Authority’s New Website Goes Live
The Los Angeles County Health Officer has extended a Heat Alert as high temperatures have been forecast for the Santa Clarita Valley through Sunday, Aug. 1.
SCV Heat Alert Extended Until Sunday
Following a year of cancellations due to the COVID-19 pandemic, the city of Santa Clarita’s wildly popular SENSES block parties will make their triumphant return to Main Street in Old Town Newhall.
SENSES Block Parties Returning to Old Town Newhall
The Los Angeles County Department of Public Health is cautioning residents who are planning to visit several Los Angeles County beaches near Dockweiler and El Segundo to be careful of swimming, surfing, and playing in ocean waters around discharging storm drains, creeks, and rivers.
Water Use Warning Issued for L.A. County Beaches
1983 - U.S. release of "National Lampoon's Vacation;" Magic Mountain is Walley World [story]
Chevy Chase and Magic Mountain crew
Local business leaders are gathering to celebrate Santa Clarita Valley Day Aug. 14 with an inaugural job fair and boutique expo.
SCV Day Celebrates With Job Fair, Boutique Expo
The Los Angeles County Department of Public Health confirmed Wednesday 15 new deaths and 2,454 new cases of COVID-19 countywide, with 29,668 total cases in the Santa Clarita Valley.
Wednesday COVID-19 Roundup: SCV Cases Total 29,668 With One Additional Death; L.A. County Urges Workers To Get Vaccinated, Wear Masks
The city of Santa Clarita is looking for public feedback on a public safety grant proposal for the U.S. Department of Justice’s Edward Byrne Memorial Justice Assistance Grant program.
City Seeks Public Input On Public Safety Grant Proposal
The California Department of Public Health has updated their guidance for face coverings statewide, aligning it with the mandates that L.A. County and the CDC calling for the public to wear masks indoors regardless of vaccination status. 
California Public Health Updates Statewide Mask Guidelines
The Los Angeles County Board of Supervisors approved a substitute motion authored by Kathryn Barger and Hilda L. Solis, in response to the proposed motion by Holly Mitchell and Shelia Kuehl that would move forward with the placement of youth realigned from the Department of Juvenile Justice and the L.A. County Probation system, specifically at Camps Scott and Scudder in Santa Clarita. 
Board of Supervisors Approves Alternative Approach For Juvenile Justice
The Los Angeles County Board of Supervisors approved a motion by Supervisor Kathryn Barger and coauthored by Supervisor Hilda L. Solis to create a Blue Ribbon Commission on Homelessness to assess existing structures and systems and provide recommendations on reforms that will help Los Angeles County and its 88 cities solve homelessness.
Barger’s Blue Ribbon Homelessness Commission Gets Board Approval
The inaugural Cars Under the Stars car show brought together families and car enthusiasts Saturday night to raise funds for the WiSH Education Foundation.
WiSH Cars Under The Stars Show Supports Hart Students
A hearing for Senate Bill 520, authored by Sen. Scott Wilk, R-Santa Clarita, was cancelled by Wilk last month. 
Hearing For Anti-CEMEX Bill Pushed To January
1938 - Newhall Tunnel cut away, replaced by Sierra Highway [story]
Sierra Highway
The California State University announced Tuesday that it will require faculty, staff and students who are accessing campus facilities at any university location to be immunized against SARS-CoV-2, the virus that causes COVID-19.
California State University Implementing COVID-19 Vaccine Mandate for Fall 2021
The Los Angeles County Department of Public Health confirmed Tuesday 15 new deaths and 2,067 new cases of COVID-19 countywide, with 29,581 total cases in the Santa Clarita Valley.
Tuesday COVID-19 Roundup: SCV Cases Total 29,581; L.A. County’s Case Rates Increasing Across All Adult Age Groups
Lauren Park's work ethic in midfield will seamlessly fit in with the Mustangs' style of play.
Former Saugus High Midfielder Lauren Park Signs with TMU
The city of Santa Clarita is seeking public feedback on a new, permanent public art piece which will be displayed at the nearly-completed Santa Clarita Valley Sheriff’s Station.
City Seeking Community Input for New SCV Sheriff’s Station Art Piece
First responders were called to a report of a shooting involving an employee of the L.A. County Sheriff‘s Department in Valencia on Tuesday morning, sending at least one person to the hospital.
LASD Employee Reportedly Involved in Shooting that Sent One to Hospital
Gov. Gavin Newsom was recently in Los Angeles to sign bipartisan legislation that expands California’s film/TV tax credit program with an additional $330 million over two years, including $150 million targeted specifically at promoting new soundstage development and workforce diversity.
Newsom Signs Bipartisan Bill Expanding State’s Film/TV Tax Credit
Not sure what plants to use in your landscape? We have taken the guess work out by identifying the top 30 plants that look beautiful and grow well in the SCV.
SCV Water’s Upcoming Virtual Gardening Class to Highlight SCV’s Top 30 Plants for Landscaping
SACRAMENTO - State Sen. Scott Wilk, R-Santa Clarita, announced that Los Angeles and San Bernardino counties have been awarded more than $60 million to help provide services for the homeless.
Wilk Announces L.A. County Awarded Millions to Assist with Homelessness
1876 - 223-foot Soledad train tunnel completed; last tunnel on line linking L.A. & S.F. [story]
tunnel
Pandemic-related problems were among the top ten complaints made to state and local consumer agencies in 2020, according to an annual survey by the Consumer Federation of America.
Consumer Federation of America Announces Nation’s Top 10 Consumer Complaints Made in 2020
%d bloggers like this: