According
to figures released by County Assessor Leslie Davis, the assessed value of
property in Calaveras County increased about six percent. This year’s assessment roll totals almost
$5.8 billion. The assessment rolls
provide the basis for funding local government services. Almost two-thirds of the property taxes are
shared by local school districts. The
balance of the property tax is shared by the County, City of Angels, and
special districts such as fire districts.
Although
the assessment roll has increased, Davis was cautious. “There are mixed messages in the data and
other factors that could have a negative effect on the roll,” she noted. “We’ve had a rough start to this year’s fire
season,” Davis observed. Property owners
whose property is damaged or destroyed may qualify for property tax relief and
that tax relief affects the assessment roll immediately. “Obviously, we hope that does not
happen. We are fortunate to have
excellent fire-fighting responses in Calaveras County,” she said. In addition, the number of properties with
Homeowners’ Exemptions continues to decline.
And the value of business property has declined more than the decline in the number of businesses. The lack of stability is “cause for caution.”
The
increase was fueled by improvement in the countywide real estate market. It resulted in fewer properties that are in a
“Decline in Value” status. Last year,
20,204 properties were in a Decline in Value Status. This year, that number dropped to 17,635 and
many of those have increased significantly.
It reflects good economic news but the downside is that tax bills will
be higher this coming year.
A
property is put in a decline in value status when its market value on January 1
is less than the “protected” or factored base year value. In
those cases, the Assessor is required to temporarily lower the assessed value
of the property. The Assessor must then review
the market value every year and adjust the assessed value accordingly. The only limit to increases in the assessed
value is the change in the market value. Once the market value on January 1st
equals or exceeds the factored base year value, the property will be assessed
at its factored base year value and increases will be limited to the annual
inflation factor. This year’s annual
inflation factor was less than one-half of a percent.
The graph below is an example of a property that
qualified for a temporary decline in value.
Davis
expressed appreciation for her staff who were responsible for completing work
on the assessment rolls. During the next
few weeks, the office expects to mail more than 26,500 notices to property
owners.
Property
owners with questions about their assessed values are encouraged to call the
Assessor’s Office at 209.754.6356. The
assessed value of all property can be viewed on the internet at www.co.calaveras.ca.us/parcelsearch.asp. You will need your parcel number, which shows
on your tax bill as the fee number. The
2014 values will not be available on-line until the first of August.
Owners
who resided on their property as their primary residence as of January 1, 2014
qualify for the Homeowner’s Exemption.
“Qualified owners, who did not apply on time, can apply for a reduced
exemption through December 10, 2014,” Davis added.