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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

Captured: Mexican Nationals found on Foresthill RoadA Placer County Sheriff's deputy just arrested the three men who've eluded capture since Wednesday afternoon.

Water Supply Projection by Water Agency GMAUBURN, Calif. - Following weeks of rain and snowfall, the Placer County Water Agency (PCWA) Board of Directors met on February 4 to receive the latest snowpack and water supply update.

3 Rocklin Restaurants Hit by BurglarRocklin, CA - On the morning of February 4, 2016 between the hour of 1:30 AM and 2:30 AM, three closed take-out style restaurants

Roseville Housing Authority Nabs Highest HUD RatingRoseville, CA- For the 11th consecutive year, the U.S. Department of Housing and Urban Development (HUD) named the Roseville Housing Authority

Local Woman Honored for Cancer AdvocacyRoseville, CA - Former educator and Granite Bay mother of three Laura Tyrrell was honored at the Stars of Advocacy Inaugural Gala Fundraiser.

New California Laws for 2016 (Part 33)Roseville, CA - New California laws for 2016. Part 33 includes Medical marijuana, Real estate investments, Housing standards, Disorderly conduct, Housing standards: mold, and more.

PET/CT Mobile Imaging Unit to serve Roseville Area CommunitiesA state-of-the-art PET/CT mobile imaging unit designed to serve patients in Lincoln, Rocklin, Roseville and surrounding communities is located in Lincoln.

The Addams Family at Folsom Harris Center The Addams Family which will run February 19-28, 2016 at the Harris Center in Folsom, California.

Respected Fishing Expert in Auburn on February 19thThe Rooster Tails Fishing Club second breakfast of 2016 will be held at the Auburn Elks Lodge on February 19.

Mexican Nationals Wanted on Weapons ChargesThe Placer County Sheriff's Office arrested Pedro Madrigal Ortiz, 25, a Mexican national, early this morning

New California Laws for 2016 (Part 32)Roseville, CA - New California laws for 2016. Part 32 includes Workers' compensation, Consumer protection, California Community Colleges, Discrimination, erroneous conviction and more.

Sutter Medical Center Foundation New Board MembersRoseville, CA. - Sutter Medical Center Foundation has announced the addition of six new community members to its Board of Trustees.


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