Southland Assessments Grow at Slower Rate

Each year the State Board of Equalization reassesses the total value of real property in the state to reflect new construction, price changes and development of natural resources.

With levels of price appreciation nearly flat, the increases in 1991-92 primarily resulted from new construction. The Inland Empire contined to report double-digit hikes in the value of real property, but Orange and the Southland’s other three coastal counties saw appreciation rates drop to single digits for the first time since 1986.

Statewide, the value of all real property increased 7.9% in the most recent period. Fourteen counties reported growth rates of more than 10%, 33 grew at rates of 5% to 9.9%, and 10 at less than 5%. Kern County reported the only decrease in assessed value, a drop of 4.5%, while Placer County had the largest increase, 15.4%.

Assessed Property Value (In billions of dollars) Ventura County ‘89-90: $35.1 ‘90-’91: $39.8 ‘91-’92: $41.7 Los Angeles County ‘89-90: $392.0 ‘90-’91: $436.4 ‘91-’92: $475.7 San Bernardino County ‘89-90: $52.5 ‘90-’91: $60.8 ‘91-’92: $67.5 Orange County ‘89-90: $142.0 ‘90-’91: $158.5 ‘91-’92: $170.3 Riverside County ‘89-90: $50.9 ‘90-’91: $61.1 ‘91-’92: $68.1 San Diego County ‘89-90: $115.1 ‘90-’91: $130.1 ‘91-’92: $139.7

Pace of Appreciation Eases Year-to-year percentage change Los Angeles 1989-90 to 1990-91: 11.5% 1990-91 to 1991-92: 9.5% Orange 1989-90 to 1990-91: 11.7% 1990-91 to 1991-92: 7.5% Riverside 1989-90 to 1990-91: 20.5% 1990-91 to 1991-92: 12.1% San Bernardino 1989-90 to 1990-91: 16.1% 1990-91 to 1991-92: 12.0% San Diego 1989-90 to 1990-91: 13.2% 1990-91 to 1991-92: 8.0% Ventura 1989-90 to 1990-91: 13.5% 1990-91 to 1991-92: 5.4%