The Los Angeles County Assessor has certified the 2019 Assessment Roll, which represents record growth and new all-time highs in real estate and business property values across the County. The roll grew by a record $94.41 billion (or 6.25%) over the prior year to an all-time high of $1.604 trillion in total net value. Leading indicators for the growth in the local property assessment roll are: a) property sales, which added $48.34 billion to the roll as compared to 2018; b) the CPI adjustment prescribed by Proposition 13, which added another $28.74 billion; and c) new construction, which added a further $11.09 billion.
Among the greatest single additions to the roll are $1.95 billion for construction of the Rams/Chargers stadium in Inglewood and $200 million for the Banc of California stadium in the City of Los Angeles.
The 2019 Assessment Roll comprises 2.57 million real estate parcels and business assessments, including 1,878,470 single-family homes, 249,972 apartment complexes, 248,109 commercial and industrial properties, and more than 200,000 business property assessments. Below are additional highlights from the 2019 Assessment Roll…
Cities with the greatest percentage growth:
1. Inglewood: 25.7%
2. Vernon: 13.2%
3. West Hollywood: 11.6%
Cities with the highest total assessed values:
1. Los Angeles: $652.9 billion
2. Long Beach: $60.2 billion
3. Santa Monica: $39.5 billion