LOS ANGELES — Los Angeles County Assessor Jeff Prang licensed the 2022 Evaluation Roll, reflecting financial development for the Twelfth-consecutive yr with the rise in assessed worth of all taxable property countywide.
The 2022 Evaluation Roll or Roll grew by a document $122 billion, (or 6.95%), over the prior yr to a $1.89 trillion in complete web worth. The entire web worth interprets to almost $19 billion in property tax {dollars} for important public companies reminiscent of public schooling, infrastructure, first responders, and healthcare staff in addition to different companies.
The Roll is the stock for all taxable property within the county and, as such, can present some perception into the well being of the actual property market. Assessments are based mostly on the worth of property as of the lien date of January 1, 2022.
The Roll can be pushed in giant measure by actual property gross sales, which added $69.6 billion to the Roll; the CPI adjustment mandated by Proposition 13 reached its full potential of two%, including an extra $34.2 billion; and new development added $6.3 billion.
Assessor Prang additionally reminded residents that the expansion doesn’t imply property house owners will likely be topic to a corresponding enhance on their annual property tax payments. Most property house owners will see solely a 2% adjustment prescribed by Prop. 13.
The 2022 Evaluation Roll includes 2,589,521 million actual property parcels and enterprise assessments, together with 1,889,000 single-family houses, 250,000 residence complexes, 248,000 industrial and industrial properties and greater than 165,000 enterprise property assessments. A full listing development and parcel rely for cities and unincorporated areas is on the market right here.