That includes a 4.2 percent drop in residential assessment
values, largely attributable to the foreclosure crisis and reduced
home sales. The overall decline was the first since at least
1972.
The net tax assessment roll in San Benito County has decreased for the first time since 1972 at the earliest, according to the annual report from the assessor’s office.
The report showed a net decrease of 1 percent, amounting to a decline of about $70 million in property value. That includes a 4.2 percent drop in residential assessment values, largely attributable to the foreclosure crisis and reduced home sales, according to the document presented at the board of supervisors’ meeting today.
Historical data in the report and currently available in the office shows net increases in the countywide assessment dating back to the 1972-73 tax year. Assistant Assessor Cheryl Tyler confirmed there had been net hikes each year since at least the first year of those available figures.
Assessor Tom Slavich today noted that 2,700 property owners who bought in the past several years – as the housing market has slumped – recently received notices of their assessment reductions below their sale prices. Those adjustments totaled a $294 million decline in overall value.
With San Benito County government receiving back about 11 cents on the property tax dollar here, local leaders might have more difficult decisions to make in the coming years.
“The base is what it is,” Slavich said. “This just gets absorbed by the county. There’s nobody really picking up the slack except the county really.”
Slavich’s report, on the positive end, noted a 10.1 percent increase in the value of “personal property” – mostly due to the expansion of food production facilities.
A Look at the Numbers
2008-09 taxable value of land: $2,782,508,682 – a 0.3 percent decrease
2008-09 taxable value of personal property: $296,753,216 – a 10.1 percent increase
2008-09 gross county values, excluding utilities: $6,719,032,711 – a 1 percent decrease
Gross taxable property value in San Benito County
Increase or decrease per fiscal year
2008-09 -1.00%
2007-08 6.30%
2006-07 10.10%
2005-06 9.10%
2004-05 7.00%
2003-04 7.30%
2002-03 8.50%
2001-02 11.50%
2000-01 12.90%
1999-00 13.10%
1998-99 9.00%
1997-98 6.10%
1996-97 5.40%
1995-96 6.30%
1994-95 5.10%
1993-94 5.60%
1992-93 4.90%
1991-92 9.50%
1990-91 19.60%
1989-88 15.00%
1988-87 9.40%
1987-88 10.90%
1986-87 12.60%
1985-86 11.70%
1984-85 10.10%
1983-84 8.70%
1982-83 10.20%
1981-82 10.60%
1980-81 13.00%
1979-80 12.80%
1978-79 4.40%
1977-78 16.30%
1976-77 8.70%
1975-76 12.50%
1974-75 10.20%
1973-74 5.00%
1972-73 3.90%
