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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

Downtown Woodland: Unexpected TreasureWoodland, CA- On a recent Sunday afternoon, I grabbed my wife and headed off on a rather short drive to Woodland to catch an afternoon show at the Blue Note Brewing Company.

Roseville Flash Crime Report (5.23.16)Roseville police crime report digest update for May 23, 2016.

Local Team Wins Spirit CUP at SMUD Solar RegattaRocklin, CA- The Sierra College Solar Energy program Team competed last Saturday May 14th in the Northern California SMUD Solar Regatta

Roseville Area Organization Helps Guardian Scholars ProgramRoseville, CA- Sierra College Guardian Scholars Program thanks the ALPHA DELTA KAPPA Organization for their generous donation to our Former Foster Youth

Startup Hustle Demo Night on May 26(ROCKLIN) -The newest startups in town will be making their pitches on May 26 at 1108 R Street from 5:30 to 7:30.

Placer County Water Agency Master Plan UpdateAUBURN, Calif. - At its May 19 meeting, the Placer County Water Agency (PCWA) Board of Directors received an update on the PCWA County-wide Master Plan.

Subaru BRZ: Reasonably priced old-school sports carRoseville, CA - For driving enthusiasts who want to own a light, agile car that provides an elusive fun factor while also looking cool, the smartly designed Subaru BRZ deserves a good look.

Roseville Gas Prices See DropRoseville, CA - While regional gas prices appear to have held steady, some gas station in Roseville are reporting a downward tick in prices.

Raising Awareness for Mental HealthIn the U.S., the month of May is (or was, depending on when your newspaper publishes this column) "Mental Health Awareness Month."

Roseville Flash Crime Report (5.21.16)Roseville, CA- Weekly crime report digest update summary in Roseville for the period covering May 13- 19, 2016.

Rocklin Flash Crime Report (5.21.16)Weekly flash crime report digest summary in Rocklin for the period covering May 9- 15, 2016.

Lake Tahoe Program Aims to Spark Redevelopment and Environmental ImprovementsA new Placer County program approved at this week's board of supervisors meeting is intended to spark investment in private projects


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