header image

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

Inside
Weather


 
Calendar
Today in
S.C.V. History
February 8
1990 - Rock 'n' Roller Del Shannon, whose hit "Runaway" topped the charts in April 1961, found dead at home in Sand Canyon [story]
Del Shannon


After what can be characterized as a tumultuous year in the real estate market, Los Angeles County Assessor Jeff Prang announced the May 15 forecast for the 2023 Assessment Roll. Prang reported to the Los Angeles Count Board of Supervisors that taxable property values are anticipated to increase approximately 5% over 2022, marking 13 years of continuous growth.

The May forecast projects the anticipated growth rate for the annual Assessment Roll, which closes in early July. The forecast is an important tool for local governments as they prepare their annual budgets in anticipation of property tax revenues. The annual Assessment Roll is the inventory for all taxable property in the County and can provide insight into the state of the real estate market and the local economy.

To access the 2023 forecast, visit https://assessor.lacounty.gov/news-information/assessmentroll.

“It has been a challenging couple of years as the local and national economies respond to a variety of factors, including COVID. But our analysis indicates property value growth for the 13th consecutive year. This is good news for property owners and for local government, which depends on property taxes to pay for vital public services,” Prang said. “However, the real estate market in 2022 began more robustly than it ended, and the sluggish market is likely to continue through this year.”

Although the housing market did cool considerably since 2021, home median sales prices remained strong through much of the year, reaching a record high exceeding $900,000. The strength of the single-family residential market through the first two quarters of 2022 is projected to produce a significant increase in transfer assessments. Property transfers are anticipated to add more than $63 billion to the Assessment Roll.

The inflation adjustment mandated under Proposition 13 is the second most significant factor contributing to the Roll, adding the maximum 2% allowable under law and resulting in an estimated $37 billion increase to the 2023 Assessment Roll. The Assessor also expects a moderate increase of $5.2 billion in new construction, while decline-in-value reductions will remove more than $2 billion from the Assessment Roll.

The nearly $2 trillion estimated total net value translates into about $20 billion in property tax dollars for vital public services such as public education, first responders and healthcare workers, as well as other county services. Assessments are based on the value of property on Jan. 1, 2023.

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


LOS ANGELES COUNTY HEADLINES
Thursday, Feb 6, 2025
Federal, state and local agencies will come together to host an informative webinar, "Understanding Air Quality After the L.A. Fires" on air quality impacts in the wake of the Los Angeles wildfires.
Thursday, Feb 6, 2025
Join Los Angeles County parks as they celebrates Black History Month. From Feb. 13–28, the parks invite you to honor the achievements, contributions and resilience of black Americans through an exciting lineup of workshops, art exhibits, music, storytelling and community events.
Wednesday, Feb 5, 2025
The Department of Animal Care and Control has announced that the Castaic Animal Care Center has reopened its doors to the community after a temporary closure due to the recent Hughes Fire on Jan. 22.
Tuesday, Feb 4, 2025
Los Angeles County Sheriff's Department deputies responded to the 24000 block of Woolsey Canyon Road in Chatsworth on Monday, at around 4:30 p.m. regarding a brush fire. Upon arrival, deputies saw a group of witnesses detaining a suspect. The suspect was in a prone position on the ground.
Friday, Jan 31, 2025
The South Coast Air Quality Management District has issued a residential No Burn Day Alert on the effective day(s), for all those living in the South Coast Air Basin, which includes Orange County and non-desert portions of Los Angeles, Riverside and San Bernardino counties including the Santa Clarita Valley.

Keep Up With Our Facebook
Latest Additions to SCVNews.com
1990 - Rock 'n' Roller Del Shannon, whose hit "Runaway" topped the charts in April 1961, found dead at home in Sand Canyon [story]
Del Shannon
The Saugus Union School District Asset Management Committee will hold its next meeting on Wednesday, Feb. 12.
Feb. 12: Saugus School District Asset Management Committee Meeting
The Castaic Union School District Governing Board will hold its regular meeting Thursday, Feb. 13, at 6 p.m. The board will first meet in closed session at 5 p.m.
Feb. 13: Castaic School Board to Receive Chiquita Canyon Landfill Update
The Santa Clarita Master Chorale, led by Artistic Director Allan Robert Petker, is currently in its 25th anniversary season celebrating its mission to bring fine choral music to the Santa Clarita Valley community.
March 9: Santa Clarita Master Chorale Presents ‘Silver Serenade’
The Santa Clarita City Council will hold a special meeting in closed session to negotiate the purchase of parcels of land at 5:30 p.m. in the Carl Boyer Room at City Hall on Tuesday, Feb. 11.
Feb. 11: City Council to Negotiate Land Purchases
The Santa Clarita Community College District Board of Trustees will hold a business meeting Wednesday, Feb. 12, beginning at 5 p.m. The board will first meet in closed session at 4 p.m.
Jan. 12: COC Board Considers 2025 Goals, Affordable Student Housing
The Cube Ice and Entertainment Center in Valencia will offer a special Valentine’s Day Sweet Hearts Skate on Friday, Feb. 14.
Feb. 14: Sweet Hearts Skate Event at The Cube
Broken Leg Theatre has announced its upcoming production of the critically-acclaimed play, "Vanya and Sonia and Masha and Spike," written by Christopher Durang. Durang is a master of comedy and winner of the 2013 Tony Award for Best Play.
Feb. 14-16: ‘Vanya and Sonia and Masha and Spike’ at The MAIN
Join the Valley Industry Association for a special Cocktails & Conversation event hosting Director of Economic Development of city of Santa Clarita, Tom Cole, Thursday, Feb. 27, from 5:30 - 7 p.m.
Feb. 27: VIA Cocktails & Conversation With Tom Cole
The Santa Clarita Valley Economic Development Corporation has announced that Natalie Vowell will assume the new Vice President of Business Development position for the Santa Clarita Valley.
SCVEDC Names Natalie Vowell New VP of Business
The Child & Family Center’s Pathways to Recovery Program, in partnership with the city of Santa Clarita, will host a special SCORE Scholarship Program sign-up event on Tuesday, Feb. 11, from 3-6 p.m. in the Child & Family lobby.
Feb. 11: SCORE Scholarship Sign-Up Event
The city of Santa Clarita has announced a recap of the stats for another successful Holiday Light Tour, which brought joy and holiday cheer to residents and visitors alike.
Holiday Light Tour Recap, Golden Ticket Giveaway Winner
The city of Santa Clarita has announced the return of SENSES Block Party to Main Street in the Old Town Newhall Arts and Entertainment District for another year of high-energy fun. SENSES is held from 7 p.m. to 10 p.m. on the third Thursday of each month starting March 20.
March 20: SENSES Returns to Old Town Newhall
The William S. Hart Union High School District has announced that the La Mesa Junior High School Counseling Department has been designated a Recognized American School Counselor Association Model Program.
La Mesa Junior High Earns Recognition for Counseling Program
Dr. Thea Sweo Alvarado, former dean of instruction at Pasadena City College, has been named interim assistant superintendent/vice president of instruction at College of the Canyons.
Sweo Alvarado Named COC Interim Assistant Superintendent/VP of Instruction
Beginning Saturday, Feb. 8 through Sunday, March 2, customers in Santa Clarita Valley can donate to Boys & Girls Clubs of Santa Clarita Valley during checkout at their local Ross Dress for Less store.
Ross Fundraiser Benefits SCV Boys & Girls Club
Single Mothers Outreach has announced the gala celebration, "Cheers to 30 Years" will be an anniversary party held 7 p.m. Friday, May 9 at Sand Canyon Country Club.
May 9: Single Mothers Outreach Celebrates ‘Cheers to 30 Years’
Braden Van Groningen had 19 kills to lead The Master's University men's volleyball team in a four-set win over the Vanguard Lions Thursday, Feb. 6 in Costa Mesa.
Mustangs Beat Old Rival
The newest members of The Master's University Hall of Honor represent a clear theme: unforgettable excellence in cross country and track and field and an undeniable commitment to Christ and Scripture.
TMU Announces 2025 Hall of Honor Inductees
College of the Canyons men's basketball claimed a third straight conference victory on Wednesday, Feb. 5, this time storming past host Glendale College 77-70 behind a game-high 15 points from Gilad Ziegel.
Canyons Claims Third Straight Conference Win, 77-70 at Glendale
1919 - First publication of weekly Newhall Signal newspaper, $2 a year [story]
Signal Century
Autonomous vehicles under testing permits have collectively covered over 4 million miles on California’s public roads from Dec. 1, 2023, to Nov. 30, 2024, the California Department of Motor Vehicles has announced.
Over Four Million Test Miles Logged in State by Autonomous Vehicles
Federal, state and local agencies will come together to host an informative webinar, "Understanding Air Quality After the L.A. Fires" on air quality impacts in the wake of the Los Angeles wildfires.
Feb. 10: Understanding Air Quality After the L.A. Fires
The Santa Clarita College of the Canyons Performing Arts Center will host singer and musician, John Waite, 8 p.m. Friday, Feb. 21 at 26455 Rockwell Canyon Road, Santa Clarita, CA 91355.
Feb. 21: Santa Clarita PAC Presents Singer John Waite
SCVNews.com