News Release

Contact: Office of Public Affairs
For Immediate Release
December 14, 2015
NR 83-15-G

Board of Equalization Announces Increase in Statewide Assessed Property Values

Sacramento – California State Board of Equalization (BOE) Chairman Jerome E. Horton, Vice Chair George Runner, Board Member Fiona Ma, and Board Member Diane Harkey announced that statewide, assessed property values rose by 5.9 percent in 2015-16.

County assessors are responsible for assessing the value of each home, as well as other residential and commercial property as of January 1 of each year. That value is used to set the property tax bill that is due in December of that year, and April of the coming year. The BOE is responsible for assessing properties such as public utilities and railroads. Those annual tax bills are set based on these valuations.

This is the fifth consecutive year the total value of California's county and state-assessed properties has increased, fueled in large part by the recovery in the state's housing market. For 2015-16, values rose to $5.209 trillion, an increase of $289.9 billion (5.9 percent) from 2014-15. Values statewide are 14.4 percent higher than they were in 2008-09.

Fifty-six counties posted year-to-year increases in assessed value, most of those increases above two percent. Two counties experienced a year-to-year decline in value. Thirty-three counties grew in excess of five percent.

The assessed valuation in California's 15 coastal counties, which accounts for more than 60 percent of total assessed valuation, gained 6.0 percent. Valuations in the 43 inland counties rose 5.8 percent.

Statewide, county assessed properties is up 5.9 percent; BOE assessed properties is up 6.7 percent.

Assessed property values in the following regions:

The five-member California State Board of Equalization (BOE) is a publicly elected tax board that serves a significant role in the assessment and administration of property taxes.

Note: This news release may discuss complex tax laws and concepts. It may not address every situation, and is not considered written advice under Revenue and Taxation Code section 6596. Changes in law or regulations may have occurred since the time this news release was written. If there is a conflict between the text of this news release and the law, decisions will be based upon the law and not this news release. For specific help, please contact the BOE at 1-800-400-7115.