By Jon Coupal | During this past summer there were dozens of media stories about big increases in property tax revenues. Orange County was typical. The taxable value of real estate went up $33 billion to over $600 billion. Assessments increased in all of Orange County’s 34 cities.
Further north, San Mateo County saw a 7.1% increase in its assessment roll for 2019-2020, the ninth consecutive year of increases. County Assessor Mark Church, in a press release, said there was record growth in commercial and mixed-use development which helped to push the total roll value to a new high.
Other counties showed similar gains: Santa Clara County, up 6.79% to $516 billion; Sacramento County, up 6.53% to $179 billion; Alameda County, up 7.13% to $321 billion; Fresno County, up 5.84% to $90.46 billion; and even Sonoma and Napa Counties saw big increases in assessed values notwithstanding losing over 5,600 structures to the horrific fires of 2017.
All told, statewide assessable property is now worth $6.5 trillion with just last year’s increase resulting in $75 billion in revenue, a 15-fold increase since 1978. All these increases belie the argument advanced by progressives that Proposition 13, which limits increases in taxable values and caps the property tax rate at one percent, has somehow “starved” local governments and schools for revenue.
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