After Los Angeles and Long Beach, Santa Clarita experienced the most growth in real estate and business property values of all 88 Los Angeles County cities, according to the 2019 Assessment Roll certified by County Assessor Jeff Prang and released Monday.
Santa Clarita’s 2019 assessed values are $35,170,533,778 compared to $32,621,351,858 in 2018, an increase of $2,549,181,920, or 7.8%.
There are 62,331 single-family residential parcels, 491 residential income properties and 4,678 commercial-industrial parcels in Santa Clarita, for a total of 67,500.
The 2019 Assessment Roll represents record growth and new all-time highs in real estate and business property values across the county.
New records also include total tax savings for homeowners and charitable organizations.
The roll grew by a record $94.41 billion (or 6.25%) over the prior year to an all-time high of $1.604 trillion in total net value.
In addition to the values of the county’s 2.38 million real estate parcels, this total amount includes $84.8 billion in business property (e.g. boats, aircraft, machinery, equipment), which rose by $3.9 billion from 2018 and is itself a new record.
“The strong growth in the local real estate market for the ninth consecutive year will have a positive impact on services for LA County’s 10 million residents,” Prang said.
“From education, healthcare, and mental health services, to public safety, transportation, and alleviating the homeless crisis, our schools, cities, and county programs will have approximately an additional $1 billion for vital local public services,” he said.
Leading indicators for the growth in the local property assessment roll are: a) property sales, which added $48.34 billion to the roll as compared to 2018; b) the CPI adjustment prescribed by Proposition 13, which added another $28.74 billion; and c) new construction, which added a further $11.09 billion.
Among the greatest single additions to the roll are $1.95 billion for the partially complete construction of the Rams/Chargers stadium in Inglewood and $200 million for the Banc of California Stadium in the city of Los Angeles.
The 6.25% overall growth in property values reflects a county average, as there is substantial variation from one community to another. For instance, the total value of all assessments in Inglewood rose by 25.7% due in large part to the new NFL stadium, whereas communities without comparable construction or sales activity saw significantly lower growth rates.
Prang reminded residents that the average growth does not mean property owners will be subject to a corresponding increase on their annual property tax bills. Nearly 9 out of 10 property owners will see only the modest 2% adjustment prescribed by Proposition 13.
Among the benchmarks set by the 2019 roll is the total amount of $620 million in tax savings for seniors, veterans, and charitable organizations.
Additionally, to date, the owners of 1,328 properties that were severely damaged or destroyed by the Woolsey fire have received tax relief totaling $684.8 million in property value, allowing them to rebuild their homes and their lives.
The 2019 Assessment Roll comprises 2.57 million real estate parcels and business assessments, including 1,878,470 single-family homes, 249,972 apartment complexes, 248,109 commercial and industrial properties, and more than 200,000 business property assessments.
Below are additional highlights from the 2019 Assessment Roll:
Cities with the greatest percentage growth:
* Inglewood: 25.7%
* Vernon: 13.2%
* West Hollywood: 11.6%
* Santa Fe Springs: 9.3%
Cities with the greatest amount of growth:
* Los Angeles: $41.7 billion
* Long Beach: $3.1 billion
* Santa Clarita: $2.5 billion
* Inglewood: $2.4 billion
Cities with the highest total assessed values:
* Los Angeles: $652.9 billion
* Long Beach: $60.2 billion
* Santa Monica: $39.5 billion
* Beverly Hills: $36.6 billion
A listing of assessments and parcel counts by city can be found here.
For more information about 2019 property values in LA County, visit opendata.lacounty.gov or call 213-974-3101.
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With all the money the county is collecting from us homeowners it sure would be nice if they could give senior citizens a break on their property taxes. We have lived in what we hoped to be our last home for 15 years but may be forced to sell because of the increasing price of our property taxes and inflation of all our other expenses. We live on a fixed income and tight budget and work for a food delivery service just so we can pay our property taxes. Come on L.A. county, give us old folks a break!!!
The Los Angeles County Department of Public Health on Friday confirmed 23 new deaths and 2,773 new positive cases of COVID-19, including 56 new cases in the Santa Clarita Valley.
California Governor Gavin Newsom on Friday announced a major injection of new Homekey funding made possible by the Legislature to expand and support the state program, helping thousands of families experiencing or at risk of homelessness find permanent, long-term housing solutions.
City of Santa Clarita officials delivered the 2020 State of the City event Thursday in true COVID-19-era format: virtually, while shining a light on local essential workers who have toiled tirelessly since the onset of the pandemic.
The Los Angeles County Department of Public Health on Friday confirmed 23 new deaths and 2,773 new positive cases of COVID-19, including 56 new cases in the Santa Clarita Valley.
California Governor Gavin Newsom on Friday announced a major injection of new Homekey funding made possible by the Legislature to expand and support the state program, helping thousands of families experiencing or at risk of homelessness find permanent, long-term housing solutions.
The city of Santa Clarita has received the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada.
City of Santa Clarita officials delivered the 2020 State of the City event Thursday in true COVID-19-era format: virtually, while shining a light on local essential workers who have toiled tirelessly since the onset of the pandemic.
Governor Gavin Newsom has announced the retirement of California Highway Patrol Commissioner Warren Stanley, and the appointment of Deputy Commissioner Amanda Ray to succeed Stanley.
A new state law set to take effect in January requires employers to provide notice of workplace COVID-19 exposure, and Santa Clarita Valley business leaders are urging local businesses to review their health and safety procedures now.
California State University, Northridge will be home to one of the 1,000 vote centers across Los Angeles County that are open to the county’s voters in the days before the Nov. 3 presidential election.
Los Angeles County residents who lost their home or sustained other losses due to the recent Bobcat Wildfire may now apply to receive federal assistance.
Los Angeles County Treasurer and Tax Collector Keith Knox and County Assessor Jeffrey Prang are alerting the public to a property tax scam under the guise of COVID-19 that has been reported to a District Office of the Assessor.
Los Angeles County is providing a second opportunity for financial assistance to businesses that have been disproportionately impacted by the COVID-19 pandemic and have been allowed to reopen by the State, but ordered to remain closed by the County of Los Angeles Health Officer Order as of Sept. 4, 2020.
The Los Angeles County Department of Public Health confirmed Thursday 18 new deaths and 3,600 new cases of COVID-19 countywide, including 6,944 total cases in the Santa Clarita Valley and a new fatality in the city of Santa Clarita.
SCV Water is undertaking multiple planning efforts designed to effectively manage the water supply for our customers, ensuring they have access to reliable water today and tomorrow.
With L.A. County’s Project Roomkey coming close to an end, Bridge to Home officials announced Thursday a new initiative to house more than two dozen local homeless individuals, but it will require help from the community
Santa Clarita Artists Association will hold its last virtual oil workshop of the year on Sunday, Nov. 15, from 3:00 p.m. - 6:00 p.m., with Rich Gallego, entitled, "Using a Modified Zorn Palette to Create Harmonious Landscapes."
The Dr. Dianne G. Van Hook University Center will host a virtual open house event on Friday, Oct. 30 for prospective students interested in earning a bachelor’s or master’s degree through the center’s partner institutions.
Santa Clarita homeless task force members are exploring options to start a local overnight parking program akin to those in Santa Barbara and Los Angeles.
The William S. Hart Union High School District will likely not return to campus until January, Superintendent Mike Kuhlman said during the district’s governing board meeting Wednesday.
Los Angeles County Public Works and Los Angeles County Sanitation Districts will host a free Household Hazardous Waste and E-Waste Recycling Roundup, Saturday, Oct. 24, from 9:00 a.m. - 3:00 p.m., at Val Verde Park.
California theme parks are considering legal action to receive permission to reopen, following state guidelines announced Tuesday that keep venues such as Six Flags Magic Mountain closed for an unknown amount of time.
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1 Comment
With all the money the county is collecting from us homeowners it sure would be nice if they could give senior citizens a break on their property taxes. We have lived in what we hoped to be our last home for 15 years but may be forced to sell because of the increasing price of our property taxes and inflation of all our other expenses. We live on a fixed income and tight budget and work for a food delivery service just so we can pay our property taxes. Come on L.A. county, give us old folks a break!!!