Posted by: thepinetree on 06/24/2014 04:23 PM
Updated by: thepinetree on 06/24/2014 04:28 PM
Expires: 01/01/2019 12:00 AM
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Assessed Values in Calaveras County Increase About 6%. Assessment Roll Totals Almost $5.8 Billion
San Andreas, CA...According to figures released by County Assessor Leslie Davis, the assessed value of property in Calaveras County increased about six percent. This year’s assessment roll totals almost $5.8 billion. The assessment rolls provide the basis for funding local government services. Almost two-thirds of the property taxes are shared by local school districts. The balance of the property tax is shared by the County, City of Angels, and special districts such as fire districts...
Although the assessment roll has increased, Davis was cautious. “There are mixed messages in the data and other factors that could have a negative effect on the roll,” she noted. “We’ve had a rough start to this year’s fire season,” Davis observed. Property owners whose property is damaged or destroyed may qualify for property tax relief and that tax relief affects the assessment roll immediately. “Obviously, we hope that does not happen. We are fortunate to have excellent fire-fighting responses in Calaveras County,” she said. In addition, the number of properties with Homeowners’ Exemptions continues to decline. And the value of business property has declined more than the decline in the number of businesses. The lack of stability is “cause for caution.”
The increase was fueled by improvement in the countywide real estate market. It resulted in fewer properties that are in a “Decline in Value” status. Last year, 20,204 properties were in a Decline in Value Status. This year, that number dropped to 17,635 and many of those have increased significantly. It reflects good economic news but the downside is that tax bills will be higher this coming year.
A property is put in a decline in value status when its market value on January 1 is less than the “protected” or factored base year value. In those cases, the Assessor is required to temporarily lower the assessed value of the property. The Assessor must then review the market value every year and adjust the assessed value accordingly. The only limit to increases in the assessed value is the change in the market value. Once the market value on January 1st equals or exceeds the factored base year value, the property will be assessed at its factored base year value and increases will be limited to the annual inflation factor. This year’s annual inflation factor was less than one-half of a percent.
The graph below is an example of a property that qualified for a temporary decline in value.
Davis expressed appreciation for her staff who were responsible for completing work on the assessment rolls. During the next few weeks, the office expects to mail more than 26,500 notices to property owners.
Property owners with questions about their assessed values are encouraged to call the Assessor’s Office at 209.754.6356. The assessed value of all property can be viewed on the internet at www.co.calaveras.ca.us/parcelsearch.asp. You will need your parcel number, which shows on your tax bill as the fee number. The 2014 values will not be available on-line until the first of August.
Owners who resided on their property as their primary residence as of January 1, 2014 qualify for the Homeowner’s Exemption. “Qualified owners, who did not apply on time, can apply for a reduced exemption through December 10, 2014,” Davis added.
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