Home RSS
Real Estate

California Property Tax Rolls Shrink 1.8% in `Historic' Slump

Christopher Palmeri Bloomberg News
California Property Tax Rolls Shrink 1.8% in `Historic' Slump - California - United States - property tax

California property values fell 1.8 percent for the current fiscal year, only the second drop since the most-populous U.S. state began collecting the data in 1933.

Declines in 48 of the state’s 58 counties brought the total value to $4.37 trillion, according to theCalifornia Board of Equalization, which monitors tax collections. The previous drop was a year earlier, when the total sank 2.4 percent to $4.45 trillion, the California Assessors’ Associationsaid.

“This is historic,” Larry Stone, the assessor for Silicon Valley’s Santa Clara County, said yesterday in a telephone interview. “This is not your normal downturn.”


Add your comment
  Anonymous comment
  Remember me on this computer

Send me by email any answer to my comment
Send me by email every new comment to this article

Disclaimer: The information presented and opinions expressed herein are those of the authors and do not necessarily represent the views of Estates Report and/or its partners.