Contra Costa County Assessor Gus Kramer reported Tuesday that the 2014-15 Assessment Roll is the highest in County History at $159.3 billion.
This represents a 9.09% increase from last year with the largest increases in assessed value coming from the City of Oakley (20.12%), Brentwood (18.64%) and Antioch (17.81%), Hercules (17.43%) and San Pablo (14.61%).
This is good news for East County cities as it means they will receive additional revenue at a higher rate than expected.
Here is a look at the breakdown of the Net Gain from last year:
- Antioch – $1.263 million
- Brentwood – $1.108 million
- Oakley: $528,765
- Pittsburg: $591,516
Here is the Letter from County Assessor Gus Kramer to the Board of Supervisors
July 1, 2014
HONORABLE BOARD OF SUPERVISORS
Contra Costa County
Administration Building
Martinez, CA 94553Dear Board Members:
I wish to advise you that the 2014-2015 County Assessment Roll has been delivered to the County Auditor, as required by law.
The increase to the local tax base for 2014-15 is nearly $13.3 billion. This represents a 9.09% increase in assessed value and brings the total local assessment roll to over $159.3 billion. The 2014-2015 assessment roll is the highest to date in Contra Costa County’s history.
Cities with the largest increases in assessed value from the prior year include Oakley at 20.12%, Brentwood at 18.64%, Antioch at 17.81%, Hercules at 17.43% and San Pablo with 14.61%.
Contra Costa County real estate continues to improve from the recent decline in the economy. The County assessment roll now consists of 366,630 parcels, an increase of 1,502 over the previous year.
I would like to acknowledge and commend my employees for their continued dedication and hard work, which in light of our limited number of staff and resources, resulted in the completion and delivery of this assessment roll on a timely basis.
Sincerely,
GUS S. KRAMER
Assessor
Click the images to enlarge:
Source:
http://www.co.contra-costa.ca.us/DocumentCenter/Home/View/32255
A look back over the years of what was reported:
2014-15
Reported a $13.3 billion increase (9.09% gain) with a total assessment roll over $159.3 billion. They also reported 366,630 parcels, an increase of 1,502 over the previous year.
Kramer reports this is the highest to date Assessment Roll in Contra Costa County history.
2013-14
Reported a $4.87 billion increase (3.45% gain) with a total local assessment roll over $146 billion. They also reported 365,128 parcels which was an increase of 284 over the previous year.
Kramer also highlighted that this assessment roll was just 6.92% away from the Contra Costa County record assessed value which was set in 2008.
2012-13
Reported a $1.2 billion increase (0.86% gain) with a total local assessment roll over $141 billion. They also reported 364.844 parcels which was an increase of 351 over the previous year.
2011-12
Reported a $700 million decrease (0.49% loss) with a total local assessment roll over $140 billion. They also reported 364,493 parcels which was an increase of 1,192 over the previous year.
2010-11
Reported $4.9 billion decrease (3.38% loss) with a total local assessment roll over $140.7 billion. They also reported 363,301 parcels which was an increase of 273 over the previous year.
Editors Note:
Just because the Assessment Roll has increased to $159.3 billion, it does not mean it’s the actual amount of money collected by the County thanks to laws that protect homeowners. To put this in perspective, the County has an operating budget of just $1.3 billion.
Bottom line, if you are a recent home buyer in the last 5 years, you are enjoying this ride up as you are not allowed to see a huge swing in your property tax bill. If you bought pre-2010, you an expect your tax bill to increase at a higher rate until you are back to 2008 levels–only then you are protected by state law with minimal increases.
3 comments
This is wonderful news for our ailing fire district. Brentwood and Oakley bringing in an 18 and 20 percent increase in taxes. This means the fire district gets an added 18 to 20 % increase in revenue. Got thank that Prop 13 clause that allows this huge jump. Housing prices will continue to rise along with tax revenue. No wonder everyone got raises in the public sector. They must have known this extra bucket of cash was coming in. Don’t forget to plan for the next rainy day recession.
You should probably go back and re-read the clause before you make yourself look like a bigger fool, Chuck.
2% annual increase cap is based on acquisition cost. Meaning any property that has changed hands during the downtown is now locked to a lower level than those purchased in the 2002-2007 period or the hay day of building out here. Clearly property values in East County have not recovered to anywhere near their 2006 levels. It is the aggregate county wide that is mentioned in the letter. Which includes more affluent areas which did not get hit as hard and also includes thousands of newly assessed parcels that were not contributing significantly pre Great Recession.
Second, any long held property protected under the original provisions of Prop 13(of which there is a lot in East County) is also not going to see a large jump. At the end of the collections the fire district will still be down a good 20% from it’s peak when it had several more stations open.
Does anyone believe costs outside the District’s control stood still or decreased during the downturn? Or have utilities, fuel and the biggie, health care costs continued their upward ascent since the crash of 2007 at a pace that far outstrips revenue?
There’s your budget deficit in a nutshell.
But your one-to-one assumption of appreciation to collection does point out your simple minded nature. The Howard Jarvis people love preying on simpletons like you.
High single digit revenue bump is more likely and the budget projections the District has been formulating already have 3-4% expected built into them.
Bottom line, Chuckie, is NO. A rich Uncle didn’t just show up and rescue your ailing fire department. Stations will still be closing.
What’s interesting is you being thrilled to believe(mistakenly) that you would be putting out an additional $800 or so in property taxes for no tangible increase in benefit or service levels. Yet when the fire district brings a special tax or assessment forward for less than 1/4 that amount you squeal like a stuck pig.
Another day in the life of schizo Chuck’s posts.
Clue,
The funny part is you think you have a rich uncle that will let you have his money on a whim.
Many of us do not have rich uncles to pay our taxes for us. We work for a living.
An 18% increase in tax revenue is what the article says. Clue, you have stated that the district depends only on property tax. That’s a true statement besides a few other small revenue generators. So, property tax revenue increased 18 to 20% is also a fact as shown here above. Therefore, the district will receive an 18 to 20% increase in its tax revenue income. What part of your pee brain doesn’t understand that ? Don’t pull the same old change the subject answer.
Just accept the fact and be grateful the added money is much needed.
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