13 that the school funding collapsed,’” Wiener said, before explaining that he voted to put Prop. “I took some heat from people who said, ‘Why are you expanding Prop. The measure contained provisions that allowed some homeowners to move to a new home while retaining their current home’s lower property tax assessment, protected from excessive increases by Proposition 13. Scott Wiener, D-San Francisco, described the “heat” he had received for voting to put Proposition 19 on the ballot in 2020. According to the assessor, “The nearly $2 trillion estimated total net value translates into about $20 billion in property tax dollars for vital public services such as public education, first responders and healthcare workers, as well as other County services,” reflecting overall property value growth “for the 13th consecutive year.” Los Angeles County property tax values are now nearly $2 trillion. This has produced a steady increase in the total assessed value of property, providing stability for local government revenues and for taxpayers. The 1978 citizens’ initiative capped annual increases in the assessed value of a property at 2% until there was a change of ownership, as defined in law. ![]() County, and in California more broadly, is Proposition 13. The story behind the steady growth of the property tax roll in L.A. ![]() “Taxable property values are anticipated to increase approximately 5% over 2022,” Prang reported, despite “what can be characterized as a tumultuous year in the real estate market.” ![]() Los Angeles County Assessor Jeffrey Prang released a forecast for the 2023 property assessment roll last week.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |