Report to Mayor and City Council
Tuesday, September 06, 2022
Consent
SUBJECT:
Title
CONSIDER AN UPDATE FROM COUNTY OF LOS ANGELES ASSESSOR JEFFREY PRANG REGARDING INCREASED PROPERTY VALUES IN THE CITY OF CARSON (CITY COUNCIL)
Body
I. SUMMARY
This item is on the agenda at the request of Mayor Davis-Holmes and transmits an informational update to the City Council regarding the 2022 Assessment Roll for the City of Carson and Los Angeles County as a whole.
The total 2022 Roll net value for the City of Carson is $19.65 billion, which reflects a $2.83 billion, or 16.8% increase over the prior year. This data for Carson is derived from the 21,012 single-family homes, 632 apartment complexes, and 3,060 commercial? industrial parcels for a grand total of 24,704 taxable properties in the City.
The official letter from the Los Angeles County Assessor is included as Exhibit 1.
II. RECOMMENDATION
Recommendation
RECEIVE and FILE this informational update.
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III. ALTERNATIVES
TAKE another action the City Council deems appropriate and that is consistent with applicable laws.
IV. BACKGROUND
According to a recent press release, Los Angeles County Assessor Jeff Prang recently certified the 2022 Assessment Roll, reflecting economic growth for the 12th-consecutive year with the increase in assessed value of all taxable property countywide.
The 2022 Assessment Roll (the "Roll") grew by a record $122 billion, (or 6.95%), over the prior year to a $1.89 trillion in total net value in Los Angeles County as a whole. The total net value translates to nearly $19 billion in property tax dollars for vital public services such as public education, infrastructure, first responders, and healthcare workers as well as other services. The Roll is the inventory for all taxable property in Los Angeles County and can provide some insight into the health of the real estate market.
Assessments are based on the value of property as of the lien date of January 1, 2022. The Roll is...
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