The total value of county-assessed property in California
declined in the current 2009-10 period, the first year-to-year
decline since the California Board of Equalization began keeping
records in 1933.
By Mark Glover, The Sacramento Bee
The total value of county-assessed property in California declined in the current 2009-10 period, the first year-to-year decline since the California Board of Equalization began keeping records in 1933.
BOE reported today that total state and county property assessments totaled $4.44 trillion, a drop of $107.2 billion, or 2.4 percent, from the previous 2008-09 period. The value of county-assessed property fell by $107.6 billion, or 2.4 percent, to $4.37 trillion. The value of state-assessed property, mainly privately owned public utilities and railroads, totaled $76.1 billion, an increase of $400 million, or 0.5 percent, BOE said.
Year-to-year percentage changes ranged from a high of a 7.1 percent gain in San Francisco County, to a low of a 13.4 percent decline in Merced County.
Thirty-eight counties posted year-to-year declines, with 14 of them declining by five percent or more.
That included Sacramento County. The 2009-10 locally assessed value of property totaled $126.4 billion, down 7.2 percent from $136.2 billion from 2008-09; state-assessed value for the county was $1.5 billion, down 4.7 percent from $1.6 billion.
Only two counties, San Francisco and Trinity, saw a positive growth rate exceeding five percent in the current period.
The decline in assessed valuation was especially concentrated in the Central Valley. Assessed values dropped 9.9 percent in the northern San Joaquin Valley, 4.8 percent in the greater Sacramento area and 4.2 percent in the southern San Joaquin Valley.
