Property Values Show Increase

NR# 7-P
Date: February 23, 2001
Customer and Taxpayer Services Division

Property Values Show Increase

Claude Parrish, Chairman, State Board of Equalization (BOE) and member Franchise Tax Board, reported today that as a result of California's robust real estate market, the total value of state-assessed and county-assessed property rose to $2.3555 trillion for 2000-01, showing an increase of $171.1 billion (7.8 percent) from last year's $2.1844 trillion.

Parrish said that the value of county-assessed property grew by $176.5 billion (8.3 percent) to $2.292 trillion. The value of state-assessed property, mainly privately owned public utilities and railroads, totaled $63.0 billion, a decrease of $5.4 billion (7.9 percent).

Percentage increases by county ranged from a low of 0.5 percent in Colusa County to a high of 12.6 percent in Placer County. Five counties posted growth rates of 10 percent or more. There were 27 counties that recorded increases between 5 and 9.9 percent while the total assessed value in 20 counties grew between 2 and 4.9 percent and four counties posted increases below 2 percent. Two counties: Humboldt (-0.8 percent) and Sierra (-0.1 percent) experienced decreases in their overall value.

Of the five counties with rolls exceeding $100 billion, Santa Clara County led the way with a 9.8 percent increase, followed closely by Alameda County (9.6 percent), Orange County (9.3 percent), and San Diego County (8.4 percent). Los Angeles County, with the largest assessment roll at $590.5 billion, posted a 6.5 percent increase of $36 billion.

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See attached chart for details