One year ago, Congress defunded public media. Now that we're 100% community funded, please become a sustaining member or increase your existing membership today.
This archival content was originally written for and published on KPCC.org. Keep in mind that links and images may no longer work — and references may be outdated.
LA County Assessor says every city in LA County saw its property values rise last year
A home in San Marino in the San Gabriel Valley. County Assessor Jeffrey Prang says that property values in parts of the SGV, as well as LA's Westside, have returned to pre-recession levels.
(
Herman Cheng/Flickr
)
Listen
0:39
LA County Assessor says every city in LA County saw its property values rise last year
The assessed value of all property in Los Angeles County for 2015 has jumped by 6 percent, the largest increase in five years, according to the county assessor’s office.
County property is now valued at $1.32 trillion, after five consecutive years of growth, said Assessor Jeffrey Prang.
Prang said most property has reached or is nearing pre-recession levels.
“There’s not enough supply and a lot of demand so values are pushed through the roof,” Prang said.
Different parts of the county are growing in value faster than others.
“You’re going to see a much higher increase on the Westside and parts of the San Gabriel Valley and South Bay,” Prang said.
He said that property value is growing more slowly in the northern part of the county such as the Antelope Valley, Palmdale and Lancaster.
Sponsored message
But Prang pointed out every city in the county saw some kind of growth – good news for local governments that depend on the tax revenue.
“An increase in the assessment roll means there is more money going into public safety, health care, education and infrastructure,” Prang said.
One year ago, Congress voted to defund public media, eliminating a critical $1.7 million from our budget every year going forward. But they couldn’t silence us, and we’re not going anywhere. LAist is now 100% community funded and that means we’re taking our future into our own hands and turning to you to keep local reporting strong.
You come to LAist because you want independent reporting and trustworthy local information. Our nonprofit newsroom doesn’t answer to shareholders looking to turn a profit. Instead, we answer to you and our communities. We are free to follow facts wherever they lead and to hold power to account without fear or favor. Our only loyalty is to our readers and listeners and our mission: to inform, engage, and strengthen Southern California’s communities.
If this story helped you, please become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
You come to LAist because you want independent reporting and trustworthy local information. Our nonprofit newsroom doesn’t answer to shareholders looking to turn a profit. Instead, we answer to you and our communities. We are free to follow facts wherever they lead and to hold power to account without fear or favor. Our only loyalty is to our readers and listeners and our mission: to inform, engage, and strengthen Southern California’s communities.
If this story helped you, please become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
Senior Vice President News, Editor in Chief
