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Placer County Tax Revenue Looking Up




Placer County Assessor Kristen Spears announced today that the 2014 Assessment Roll increased 7.01% from last year. 

The annual property assessment roll generates the property tax revenue that is used to fund education, criminal justice, health, welfare, transportation, and many other city and county government services.

2014-15 Assessment Roll Information by Jurisdiction is as follows:


Assessed value in California is based on the lower of two values: the Proposition 13 value or the market value as of January 1st. The Proposition 13 value is based on the market value of property when it was acquired, plus new construction (if applicable), and adjusted for inflation by no more than 2% per year. By using the lower of these two values, property owners are provided tax relief during times of increasing and decreasing property values.

Since 2007, the Assessor has reviewed properties to recognize annual declines in property values throughout the county.  By 2012, over 50% of residential and commercial property owners had seen temporary reductions in their assessed values. However, the condition of the economy is improving. For 2014, there are 43,637 assessments still assessed at market value. Due to the local real estate market recovery, 32,683 of these assessments will see increases in assessed value. These properties will be annually reviewed until their market value is higher than their Proposition 13 value. An additional 19,388 properties have recovered sufficient value so that their market value is higher than their Proposition 13 value, and they have been restored back up to their Proposition 13 base for 2014.

"The increases in value continue for a second year to be primarily focused on residential properties where the strongest real estate market recovery has taken place," says Assessor Kristen Spears.

If an assessment value has been temporarily reduced to its market value, the value may increase more than 2%. Just as there is no limit to the amount of the property tax reduction recognized in a given year during a market decline, there is also no limit on the amount of increase up to the Proposition 13 value when experiencing a market recovery. The percentage is dependent on the changes in the real estate market that occur from year to year. These annual adjustments will continue until the property's market value exceeds the Proposition 13 value. When this occurs, the Proposition 13 value will be restored, and the assessed value increases will be limited to no more than or up to 2% per year.

The diagram below provides further explanation on how market recovery and declines may affect assessed value.


Throughout this month, property owners will be mailed notices of their assessed value. "The Assessor's Office is committed to proactive communication and delivery of excellent service to the public. We have provided additional information explaining the basis of these value changes in property owners' value notices, enhanced the Assessor website, and stand ready to answer phone or lobby calls from property owners," says Assessor Kristen Spears. If a property owner believes the market value on January 1, 2014, is less than the amount shown on the July 2014 value notice, the owner may request an assessment review. Property tax reviews are conducted at no cost to the property owners and may be initiated by filling out Value Review forms available on the Assessor's website at http://www.placer.ca.gov/assessor. Property owners may also contact the Assessor's Office at (530) 889-4300, assessor@placer.ca.gov, or in person at 2980 Richardson Drive in Auburn.





Placer County News Headlines

All-new Volkswagen Atlas a roomy SUVRoseville, CA,- Looking to fill what it considered a void in its sport utility vehicle offerings, Volkswagen developed the 2018 Atlas.

Lower Cost Electricity Anticipated for Some Placer County ResidentsPLACER COUNTY, CA - In December, residents and businesses will receive the first of several notices informing them about the coming change in their electric energy supply

Groundbreaking for Interstate 80 / Highway-65 Interchange ImprovementsRoseville, CA, - The Placer County Transportation Planning Agency (PCTPA), in partnership with Caltrans, the South Placer Regional Transportation Authority, the Federal Highway Administration

Merry Days & Holly Nights at Squaw Valley Alpine MeadowsOlympic Valley, Calif.- Squaw Valley Alpine Meadows is celebrating its second annual Merry Days & Holly Nights, two weeks of spirited events and activities December 16-31.

Southern California Fires Fueled by WindsOver 8,500 firefighters have made significant progress on the wildfires burning in southern California. As containment lines continue to be reinforced, many evacuations have been lifted

$111 Million Budget Adopted by PCWA BoardAUBURN, Calif. , - At its December 7 meeting, the Placer County Water Agency (PCWA) Board of Directors adopted the Agency's 2018 budget

Woman Found Dead in the American River CanyonAuburn, CA,- The Placer County Sheriff's Coroner's Office has confirmed the identity of the woman found in the American River canyon Wednesday as Yin Wong, 33, of Sacramento.

Reward Offered in Khaki Bandit CaseSACRAMENTO- The Federal Bureau of Investigation (FBI) is offering a reward of up to $20,000 for information that will lead to the arrest and conviction of an armed and dangerous individual

Joey Travolta to Speak at MIND Institute(Sacramento, Calif.)-The UC Davis MIND Institute will host Joey Travolta on Wednesday, Dec. 13 as part of the ongoing Distinguished Lecturer Series. Travolta, owner of Inclusion Films

Medieval Armored Combat in Roseville @ the GroundsRoseville, CA - On Dec. 9-10 the newly renovated barn @the Grounds will showcase real knights in real battles in true medieval fashion for the Armored Combat League

Placer County Property Taxes Due ReminderAuburn, CA, - Placer County Treasurer-Tax Collector Jenine Windeshausen reminds property owners that the first installment of their annual property taxes for the 2017-18 tax year

Folsom Zoo Wild Nights and Holiday LightsFolsom, CA,- Many hours of hands-on work by local families, businesses, community groups and city staff go into installing the lights, decorations and displays for the Folsom Zoo


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