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.PARCEL COUNTS City Single Family Residence Residential Income Commercial Industry Total Cerritos 15,253 22 578 15,853 Artesia 3,253 259 509 4,021
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.
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.