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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

Bella Vista HS Wins Sacramento County Academic DecathlonSacramento, CA- Bella Vista High School, from the San Juan Unified School District, is the winner of the 2017 Sacramento County Academic Decathlon competition

Topgolf in Roseville to host WJU Fundraiser in AprilRoseville, CA - The Jessup Athletic Association will host the inaugural TopSwing event - a fun gathering, providing golf, games, food, beverages, prizes and awards - on Sunday, April 23

Roseville Bucks for Bikes Application DeadlineRoseville, CA- Apply for an opportunity to receive up to $200 toward a new commuter bike. Bucks for Bikes helps commuters

Mom Turns Caregiving Into CareerSo taken up by their moving story, I'm devoting the next two weeks to Joe and Tish Griffin, 21-year-old son and 60-year-old mother

PCWA affirms opposition to weaken Prop 218AUBURN, Calif. - At its February 16 meeting, the Placer County Water Agency (PCWA) Board of Directors expressed opposition to any legislative effort to weaken Proposition 218

Rocklin Music Artist Quinn Hedges New AlbumLocal Rocklin music artist Quinn Hedges will unveil his latest album in spectacular fashion. He and several collaborators created a dozen captivating videos

Roseville Gas Price Declines Coming to an End?Roseville, CA- Declining gas prices in Roseville may be coming to an end as experts continue to anticipate a rise in fuel prices nationwide heading into the warmer months

Bill would provide independent oversight of Mental Health ServicesROSEVILLE - This week Assemblyman Kevin Kiley (R-Roseville) introduced a bill to assure that the $2 billion allocated each year from Proposition 63

Roseville to host Junior Singles ChampionshipsRoseville, CA - Johnson Ranch Racquet Club in Roseville is set to host annual Junior Singles Championships Feb. 18 - 20.

Kidney Transplants: UC Davis Leads NationSACRAMENTO, Calif.) - UC Davis physicians gave lifesaving kidney transplants to more than 400 people in 2016, making it the highest-volume kidney transplant program in the nation.

Kid-O-Rama Festival Returns to Squaw Valley Alpine Meadows Olympic Valley, Calif. - The 8th annual Kid-O-Rama extravaganza returns to Squaw Valley Alpine Meadows this President's Day weekend from February 18-25.

Dementia Support Group in Grass ValleyCascades of Grass Valley, a senior living community located at 415 Sierra College Drive in Grass Valley, will be hosting a monthly support group for family and caregivers


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