ElectionsVote

LOS ANGELES, CA - Los Angeles County Assessor Jeffrey Prang today released the 2015 Los Angeles County Assessment Roll. The Assessment Roll reflects the value of all taxable property in Los Angeles County. This is Assessor Prang’s first Assessment Roll produced since taking office last December.

The 2015 Assessment Roll reveals a 6.13% increase in value resulting in the fifth consecutive year of growth. The gross assessed value for the County reached $1.32 trillion, and the net taxable value after exemptions (charitable, homeowners, disabled, etc.) is a record $1.264 trillion, $73.1 billion greater than 2014.

“The 2015 Assessment Roll provides a comprehensive view of the strength of the Los Angeles real estate market,” said Assessor Jeffrey Prang. “The Roll illustrates that in the last year, every city in Los Angeles County recorded an increase compared to 2014.  I am pleased to report the 6.13% increase for assessed property values in Los Angeles County is the largest increase since 2010.”

Earlier today, Assessor Prang delivered the Assessment Roll to John Naimo, the Auditor-Controller for Los Angeles County. The Auditor-Controller’s Office applies the annual tax rate and submits the data to the County Treasurer and Tax Collector. The Treasurer and Tax Collector mails property tax bills to property owners and collects property tax revenues.

The 2015 Assessment Roll consists of 2,362,297 taxable real property parcels, 318,008 business property assessments, 46,449 boats, and 3,136 aircraft. Transfers of real estate (e.g., sales) were the largest contributor to the Assessment Roll increase at 3.09%. Additional contributors to the growth of the Roll include decline-in-value restorations (0.75%) and new construction (.39%). The annual inflation-adjusted trend (also known as the Consumer Price Index) added an additional 1.66% to the Roll.

For more detailed information about the 2015 Assessment Roll, please click here: http://assessor.lacounty.gov/wp-content/uploads/2015/07/pr_2015_assessment_roll_details_15_07_16.pdf

 

From 2007 through 2010, the economic recession and the corresponding real estate market decline resulted in consecutive annual Assessment Rolls decreases. However, the 2011-2014 Assessment Rolls reflected increases of 1.49%, 2.24%, 4.66%, and 5.47% respectively. With 6.13% growth, the 2015 Assessment Roll continues this upward trend and market recovery.

In order to create the 2015 Assessment Roll, the hardworking and dedicated staff of the Assessor’s Office processed 353,000 deeds, assessed over 135,000 transfers, enrolled over 57,000 new construction events, reviewed approximately 241,000 decline-in-value parcels, and prepared over 40,000 Assessment Appeals Board cases. In the last year, Assessor business personal property staff canvassed over 285,000 businesses and processed over 141,000 property statements.

About the Los Angeles County Assessor’s Office

Los Angeles County Assessor Jeffrey Prang leads the largest local public property assessment agency in the nation. His staff of nearly 1,400 appraisers and support staff are dedicated to creating an accurate and timely property assessment roll. Last year, the Los Angeles County Assessor's Office established values for 2.6 million properties valued at $1.2 trillion. For more information, please visit us online at http://assessor.lacounty.gov/, on Facebook at http://www.facebook.com/LACAssessor, or on Twitter at @LACAssessor.