Bruce Dear, Placer County Assessor, announced an 8.52% increase in this year’s property assessment roll. Placer County’s 2007-08 assessment roll grew to $56.8 billion, with a $4.5 billion increase over the prior year. After seven years of double digit percentage growth in the countywide property assessment roll, this year’s increase reflects the slowdown in residential property activity. Even with a slowdown in residential activity, this year’s assessment roll increase reflects a steady volume of new construction activity, particularly in the commercial / industrial sector.
Due to a decline in residential property values, Assessor staff reviewed about 18,000 properties that were purchased in recent years. The review estimated the current market value for each residence as of the most recent lien date, January 1, 2007. If market value is lower than a properties’ Proposition 13 protected base value, then this year’s property tax bill will reflect the lower value. Value notices will be mailed in the next two weeks to every residential property owner who received a reduced (market value) assessment. ‘Notices of Assessed Value’ are also being mailed to all business property owners and to some other real property owners based on certain changes of status that impacted their real estate.
Lincoln , again, led Placer County jurisdictions with a 13% increase in net assessed value. Assessment information by jurisdiction is as follows:
Net Assessed Value by Year
The annual property assessment roll, delivered by Bruce Dear to the County Auditor, generates the property tax revenue that is used to fund education, criminal justice, health, welfare, transportation, and many other city and county government services.
Questions related to property assessments can be directed to the Assessor’s office at telephone number (530) 889-4300. You can also obtain information from our website at placer.ca.gov/assessor. For property owners who would like to discuss their assessment in person, the main office of the Assessor Department is located at 2980 Richardson Drive, Auburn, in the DeWitt Center.