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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

Heat Accelerates Dry in California DroughtDrought Watch: Although record low precipitation has been the main driver of one of the worst droughts in California history, abnormally high temperatures have also played an important role

Angelo K. Tsakopoulos Family Donates Lincoln Acreage to Dignity HealthDignity Health announced today that it has received a gift of 32.85 acres of vacant land in Lincoln from the Angelo K. and Sofia Tsakopoulos family, a gift valued at more than $10 million.

Food and Wine Event in Downtown Roseville May 29thRoseville, CA -- Get your tickets now for Placer County's only dog-friendly food & wine tasting event.

$18 Million for Humanitarian Assistance for Ukraine CrisisThe United States remains concerned by the growing humanitarian crisis in eastern Ukraine, particularly in areas occupied by combined Russian-separatist forces

Santa Barbara Oil Spill Cleanup Orders Issued by FedsThe United States issues cleanup order to owner of ruptured Refugio Beach oil pipeline. Federal order ensures continued action on Santa Barbara County spill.

Auburn Homeless Shelter Opens June 1stA temporary homeless shelter operated by Volunteers of America and funded by Right Hand Auburn is scheduled to open at the Placer County Government Center

Roseville Chamber of Commerce Events June 2015The Roseville Chamber of Commerce gears up for another month of business events for June 2015.

Roseville Sorority Chapter Supports Former Foster Youth at Sierra CollegeSusan Goto and Carol Sue Acres, representing the Alpha Delta Kappa Beta ETA Chapter in Roseville, stopped by the Sierra College Foundation Office

Tahoe City Bridge Nears ApprovalTahoe Regional Planning Agency Board vote remains for final approval of new bridge in Tahoe City

PAC Track and Field Championships in Rocklin at Whitney HighRocklin, CA - The Pacific Association Youth Championships (PAC) for track and field will take place at Whitney High School in Rocklin on May 30-31.

Roseville Gas Prices Tick Down: Find the Best DealsRoseville gas prices are down slightly this week and are expected to have peaked for 2015. That's good news for summer travelers and commuters.

Adult Literacy in Placer CountyA local business owner in her mid-30's recently contacted the Placer Adult Literacy Service (PALS) requesting tutoring.


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