Property Values Show Increase
Dean Andal, Chairman, State Board of Equalization (BOE), reported today that the total value of state-assessed and county-assessed property rose to $2.184 trillion for 1999-2000, up $140.1 billion (6.9 percent) from last year's $2.044 trillion.
Andal said that the value of county-assessed property grew by $141 billion (7.1 percent) to $2.116 trillion. The value of state-assessed property, mainly privately owned public utilities and railroads, totaled $68.4 billion, a decrease of $813 million (1.2 percent). This drop can be attributed to the restructuring of the electrical utility industry in California which resulted in the shifting of electrical generation facilities from the state roll to the local rolls.
Percentage increases ranged from a high of 12.1 percent in San Benito County, to 1.7 in Kings County. Four counties grew more than 10 percent. There were 27 counties that recorded growth rates between 5 and 9.9 percent. The total assessed value in 24 counties grew between 2 and 4.9 percent while three counties posted increases below 2 percent.
Of the five counties with rolls exceeding $100 billion, San Diego led the way with a 9.7 percent increase, followed closely by Santa Clara County (8.8 percent), Orange County (8.6 percent), and Alameda County (8.4 percent). Los Angeles County, with the largest assessment roll at $554.5 billion, posted a 5.7 percent increase of $29.7 billion.