Property Assessments Climb in 4 Cities
The assessed value of property in Los Angeles County in 1986 is 8.4% higher than in 1985, according to a report released recently by Assessor Alexander H. Pope.
The newly released 1986 tax roll shows increases of 10.5% in West Hollywood, 8.3% in Beverly Hills, 6.6% in Santa Monica and 5.2% in Culver City.
Property assessments in Los Angeles County have shown a stable rate of increase averaging 8.4% over the past four years, he said.
“The continued strong health of the single-family home market has been the primary factor contributing to relatively stable growth,” Pope said.
About 54% of the increase, to $281.1 billion in 1986 from $259.4 billion in 1985, results from the sale of about 200,000 properties, and another 30% from new construction appraisals and Proposition 13 inflation adjustments, Pope said.
Culver City was one of about 20 cities that differed noticeably from the county average, with its increase being 3.2% lower than the county’s, he said.
“Because this community is close to 100% built up, there is very little new construction, and there were large condominium market value reductions due to decline in value,” the assessor’s report said.
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