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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

Nelson Earned PhD Despite Three Disabilities"I grew up in a time when no one understood ADHD (attention deficit hyperactivity disorder)," said 53-year-old Eric Nelson of Sacramento, California, in a telephone interview.

Kia Sedona Minivan Delivers More in Redesigned VersionKia redesigned its minivan and didn't hesitate to make some significant changes. Borrowing a time-honored line when it comes to remodeling, the 2015 Kia Sedona arrived new and improved.

U2 Tour 2015: Tickets Selling QuicklyU2 will return to the stage on May 14 north of the border at Rogers Arena in Vancouver, British Columbia to kick off their 2015 Innocence + Experience World Tour

Sierra College CACT Partnership Wins AwardSierra College, the California Conservation Corps and Golden Sierra Job Training Agency were recognized by the Placer County Economic Development Board

David Boesch Honored at North Lake Tahoe Awards DinnerPlacer County Executive Officer David Boesch was presented the Public Servant of the Year Award at the North Lake Tahoe 61st Annual Community Awards

Garth Brooks Tickets: Six Nights in SacramentoSaddle up cowboys and cowgirls! Garth Brooks will be making the first California appearance on his current world tour

Vacation Deals: On Tight BudgetsLet's face it, we all love our vacation time. A time to break off from everyday routines, ditch a portion of the responsibility we call life and enjoy doing what we love

Joyce and Jim Raley Teel & Joseph Gallo HonoredMore than 700 guests came out to honor Joyce and Jim Raley Teel, Raley's Family of Fine Stores and Joseph E. Gallo at their induction into the California Grocers Association Educational

Roseville Solar City Location Looks to Fill 300 JobsSolarCity , one of the nation's leading solar providers, announced its move into a vast new Roseville, California office to accommodate its growing local staff.

Republicans Start Swinging in Auburn Golf BattleAuburn, CA- The temperature are rising and Republicans will be heating it up in Auburn at the 4th Annual Placer County Republican Golf Tournament

Top 100 Paying Jobs in California (Part 5)Part 5 in the countdown to #1 to the Top 100 Paying Jobs in California

Jessica's Law Enforcement Changes Prompt ResponseJessica's Law authors George and Sharon Runner today responded to a decision by the California Department of Corrections and Rehabilitation to stop enforcing Jessica's Law residency


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