Yellow Pages |   News Updates |   Events Calendar |   Movie Times | Recycling  |   Document Shredding
Rocklin & Roseville Today Events
Celebrating Life...
HOME

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

California Fire Death Toll Hits 41California Fire Updates 2017: In the past week, over 245,000 acres have burned across California. More than 11,000 firefighters continue making progress on 12 large wildfires burning in the State

Volkswagen unveils versatile new GolfRoseville, CA,- The all-new 2017 Volkswagen Golf Alltrack. Volkswagen has attempted to build the Alltrack with some enviable features that give it the versatility that appeals to people who enjoy staying active.

Roseville Gas Prices Continue DroppingRoseville, CA, - More good news for Roseville area motorists as gas prices continue to move lower. The cooler weather is moving in and autumn weekday road trips are idyllic

31 Confirmed Dead in California Wildfire DevastationCalifornia Fire Updates 2017: The death toll has risen to 31 across 4 fires as estimates remain that 3,500 homes and other structures have been destroyed

Placer Women's Retreat in Roseville on November 4thRoseville, CA- The Placer Women's Retreat will take place at the Falls Event Center in Roseville on November 4, 2017.

Sacramento Area Council of Governments UpdatesThe Sacramento Area Council of Governments (SACOG) is pleased to announce Christina Lokke as its new Policy Manager and the promotion of Erik Johnson to Director

Spookomotive Trains to Treat Old Sacramento VisitorsSACRAMENTO, Calif. -- Back by popular demand, California State Parks and the California State Railroad Museum & Foundation will once again offer engaging and entertaining "Spookomotive"

Disney's Beauty and the Beast set for Harris CenterEl Dorado Musical Theatre is proud to present Disney's Beauty and the Beast which will run October 27 - November 5, 2017 at the Harris Center

Sutter Health Employees Make A Difference with Local Food Bank DonationsAUBURN - Sutter Health employees donated more than 3,350 pounds of non-perishable items to seven food banks as part of the hospital's month-long campaign

Placer County Air Quality Advisory Due to WildfiresThe Placer County Public Health Officer and Placer County Air Pollution Control Officer issued a joint air quality advisory to notify the public of the potential of poor air quality conditions

Children's Hope Charity Golf Tournament in RosevilleRoseville, CA - Children's Hope Foster Family Agency will hold it's First Annual Putting for Foster Kids Golf Tournament in Roseville on October 21, 2017 at Woodcreek Golf Club.

Roseville Incentives Hope to Lure Amazon HeadquartersRoseville, CA - Roseville is making a pitch to bring a second Amazon headquarters and its 50,000 jobs here.


NEWS: In Case You Missed It