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SCVNews.com | 2022 Assessment Roll Shows 7.7 Percent Increase in Santa Clarita

Los Angeles County Assessor Jeff Prang certified the 2022 assessment roll, which reflects economic growth for the 12th consecutive year of increases in assessed property values ​​across the county.

The 2022 valuation list grew by a record $122 billion (or 6.95 percent) from last year to a total net worth of $1.89 trillion. The total net cost translates to about $19 billion in property tax dollars for vital public services such as public education, infrastructure, first responders and health workers, among other services.

The percentage increase in assessed value in Santa Clarita was 7.7%. The assessed value was $38,386,285,259 in 2021 and increased to $41,352,299,677 in 2022, a change of $2,966,014,418. Santa Clarita outperformed the Los Angeles County average with a 6.95% increase in assessed value.

A parcel count in Santa Clarita showed 63,904 single family residential parcels, 491 residential income and 4,651 commercial/industrial for a total of 69,046 parcels.

The assessed valuation for Santa Clarita only includes parcels within the city limits of the city of Santa Clarita, and not the unincorporated areas adjacent to the Santa Clarita Valley, such as Stevenson Ranch or Castaic.

“I am pleased to report a 6.95% increase in assessed property values ​​in Los Angeles County, which shows that we are slowly emerging from the epidemic that has been with us for the past two years,” said Prang. “While the housing market is now showing signs of leveling off, it was strong with low interest rates, inflation and high demand during the COVID restrictions.”

The tax roll is an inventory of all taxable property in a county and, as such, can provide some insight into the health of the real estate market. Appraisals are based on property values ​​as of the foreclosure date of January 1, 2022.

The tax roll is also heavily driven by real estate sales, which added $69.6 billion to the tax roll; The CPI adjustment set forth in Proposition 13 reached its full potential of 2%, adding an additional $34.2 billion. and new construction added 6.3 billion dollars.

“As I said when I released the May forecast, the growth in the single-family housing market could have led to a record increase in remittance assessments, and it did, adding $69.6 billion,” Prang said. “However, prolonged economic uncertainty, ongoing concerns over COVID-19 variants, and evolving business trends have led to many challenges for the region. As always, however, we pulled together and produced a thorough, accurate and fair tax list on time.”

Prang also reminded residents that the increase does not mean property owners will face a corresponding increase in their annual property taxes. Most property owners will only see a 2% adjustment under Article 13.

The 2022 appraisal list includes 2,589,521 million real estate parcels and business appraisals, including 1,889,000 single-family homes, 250,000 apartment complexes, 248,000 commercial and industrial properties, and more than 165,000 business property appraisals. A full list of growth and parcels for cities and unincorporated areas is available here.

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SCVNews.com | 2022 Assessment Roll Shows 7.7 Percent Increase in Santa Clarita
Source link SCVNews.com | 2022 Assessment Roll Shows 7.7 Percent Increase in Santa Clarita

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