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Property values drop for only second time in state history

Posted: September 6, 2010 7:42 p.m.
Updated: September 7, 2010 4:55 a.m.

The total value of state and county-assessed property declined to $4.371 trillion for 2010-11, a drop of 1.8 percent from the previous year, according to the California Board of Equalization.

The drop is the second consecutive year-to-year statewide decline, and the second decline since record-keeping began in 1933.

Forty-eight counties posted year-to-year declines, with nine of them declining by five percent or more. Only two counties, Kern and San Francisco, grew by more than two percent. Southern California declined 1.9 percent, roughly in line with the statewide figure. 

The assessed valuation in California’s 15 coastal counties, which account for nearly 60 percent of total assessed valuation, fell 1.1 percent.  In contrast, the assessed valuation in the 43 inland counties fell 2.8 percent.

Southern California counties performed as follows: San Diego (-1.5 percent), Orange (-0.5 percent), Ventura (-0.3 percent). Los Angeles County, with the largest assessment roll at $1.063 trillion, declined by 1.8 percent, down $19.8 billion over 2009.


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