San Benito County Assessor Tom Slavich has released his annual
report, and the findings show another down year in real estate
values.
San Benito County Assessor Tom Slavich has released his annual report, and the findings show another down year in real estate values.
In the 2010-11 report, the county’s net assessed value fell more than $310 million, a 5.2 percent decrease from the year before. In total, the taxable value of the county has fallen more than $1 billion since its peak of $6.8 billion a few years ago.
It is the third year in a row that the county’s value has decreased but the decreasing rate slowed from last year’s 8.5 percent reduction.
Today’s net value of $5.7 billion is largely due to the decreasing value of homes, according to the report. The lack of economic inflation was also cited as a reason why the assessed property value decreased.
The California Consumer Price Index had its first decrease of nearly 0.237 percent, decreasing value of the state’s property, according to the report.
Slavich will present the report’s findings to the San Benito County Board of Supervisor during Tuesday’s meeting. Slavich declined to discuss the report until he presented it to the board. The meeting is set for 9 a.m. at the County Administration Building.
