Politics & Government
Property Values in Cerritos & Artesia Up From 2011 Says County Assessor
Property values in Los Angeles County took a $24.6 billion jump over 2011, according to the Assessor's Office. Cerritos and Artesia were among many cities that saw an increase in property assessments compared to last year.
Property values are on the rise in the cities of Cerritos and Artesia -- an increase noted throughout Los Angeles County, according to the Assessor's Office, which announced Monday a 2.24 percent jump in the total assessed value of properties on the 2012 countywide tax roll.
The city of Cerritos has an assessed value of $7.56 billion -- a 2.6 percent increase from last year. The city of Artesia also showed growth with an assessed value of $1.32 billion -- a 1.8 percent increase from 2011, according to the Assessor's Office.
ASSESSED VALUATION City 2011 2012 Amount of Change Percent Change Cerritos $7,366,467,970 $7,561,102,357 $194,634,387 2.6 Artesia $1,294,309,394 $1,317,697,744 $23,388,350 1.8* The assessed values do not include State Board of Equalization valued properties (primarily public utilities) or exempt properties (such as churches, most hospitals, schools, and museums) for which there is no State reimbursement. Values include homeowners’ exemptions which are reimbursed by the State.
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Other notable property value percentage increases in neighboring communities include:
- Bellflower: 1.9
- Norwalk: 2.2
- Hawaiian Gardens: 1.2
- Lakewood: 1.6
The total assessment of properties in the county is more than $1.13 trillion, a $24.8 billion jump over last year, according to the Assessor's Office. When tax-exempt assessments and state-funded homeowners' exemptions are factored in, the county's net assessment roll is $1.079 trillion, up 2.2 percent from last year.
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The city of Los Angeles has the highest assessed value in the county at $419.1 billion -- up 2.5 percent from last year. Long Beach placed second at $44.1 billion.
Click here to look at a complete breakdown of the Assessor's 2012 Annual Report.
- City News Service contributed to this report.
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