Report shows rising property values in Sacramento region, California

Hard evidence of a healing real estate market in the Sacramento region and the state was released Monday by the state Board of Equalization.


The value of 2013-14 assessed properties of four counties in the Sacramento region rose compared with year-ago totals, according to the state Board of Equalization.

BOE figures showed Placer County with the highest year-over-year percentage gain – about 6 percent to $56 billion.

Sacramento County saw values increase about 4 percent, from $117.6 billion to $122.4 billion. Yolo County likewise rose about 4 percent year over year, to $21.1 billion. El Dorado County gained about 1 percent to $25.7 billion.

The BOE said the statewide value of property assessed by county governments increased $187.9 billion (4.3 percent) to $4.545 trillion.

The value of property assessed by BOE staff – mainly privately owned utilities and railroads – totaled $90.8 billion, an increase of $3.7 billion (4.2 percent). That brought the total of all assessed property values statewide to $4.636 trillion, an increase of $191.5 billion (4.3 percent) from 2012-13.

The board said 51 of California’s 58 counties posted year-to-year increases in assessed value, and the BOE noted that statewide property values climbed for a third straight year.

“These property-value gains after several years of decline are an encouraging sign for our economy and jobs,” said BOE member George Runner. “I hope this trend continues.”

The new figures represented a sharp contrast from the doldrums of the recession.

That impact hit home in late August 2009, when the BOE reported that, for the first time since it began keeping records in 1933, the value of all assessed property statewide declined in a year-to-year comparison.

BOE said assessments statewide for the 2009-10 period totaled $4.44 trillion, a drop of $107.2 billion, or 2.4 percent, from 2008-09.

Amid the dismal numbers in BOE’s annual report for 2009-10, the Sacramento region was among the hardest hit. In Sacramento County, the 2009-10 locally assessed value of property totaled $128 billion, down about 7.2 percent from the all-time high of about $137.9 billion in 2008-09.

The decline in assessed valuation was especially concentrated in the Central Valley. Values dropped 9.9 percent in the northern San Joaquin Valley, 4.8 percent in greater Sacramento and 4.2 percent in the southern San Joaquin Valley.

In 2010-11, statewide assessments dropped to $4.37 trillion. Sacramento County assessments that year totaled $125.6 billion. Other regional numbers included $54.5 billion in Placer County, $25.9 billion in El Dorado County and $20.5 billion in Yolo County.

Although statewide assessments have risen three years running, values in the four-county Sacramento region mostly continued to fall until this latest report.

Each year, the state’s 58 county assessors are required to report their assessment roll to the BOE. Totals reported for 2013-14 represent property values on Jan. 1, 2013. Those values are used to calculate amounts homeowners and commercial property owners owe county governments in property taxes. Sacramento County homeowners began receiving their property-tax bills last week.

Source: Sacramento Bee

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