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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

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Roseville Optometry Business BurglarizedRoseville Police asking for the public's help identifying the two people in these surveillance pictures.

Teacher Arrested for Child Pornography DistributionA Nevada County teacher was arrested for distribution of child pornography. Ethan Lewis, 32, was booked into the Nevada County Jail after turning himself in.

Lake Tahoe: Labor Day Weekend Events and BeyondTahoe South's late-summer of festivals, music, homegrown food and fireworks will ride the hot August wave of indoor and outdoor adventures now through Labor Day

Roseville Ranked #51 for Female Entrepreneurs to Launch BusinessThe city of Roseville, CA was ranked #51 in a new report by data-science group GoodCall as one of the best cities in the U.S. for women entrepreneurs to launch their business.

Mentoring Success Story: Child Advocates of Placer CountyTwo years ago, 17-year-old Nicole had no drive in her life."I was really depressed, but my mom was good at finding resources for me," Nicole says

Johnny Cash Trail Art Experience Master Plan ApprovedThe Folsom City Council unanimously approved a master plan for the Johnny Cash Trail Art Experience

William Jessup University Begins Fall SemesterAt William Jessup University, the start of fall semester doesn't seem official until the annual group photo is taken.

Dominick Casey appointed Roseville Assistant City ManagerRoseville, CA - Acting Roseville City Manager Rob Jenson today appointed Dominick Casey as Assistant City Manager on a permanent basis.

Explosive Device at a Roseville Middle School: Police Seek InformationHomemade explosive devices safely disabled on Roseville middle school campus; no injuries reported.

Rocklin Resident Helps Police Catch Suspected Mail ThiefA vigilant Rocklin citizen observed a male suspect forcing entry into a commercial cluster mail box and steal mail.


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