Value of Taxable Property in Ventura County Rises 13%

Ventura County Assessor R. J. Sanford said this week that the value of taxable property in the county had increased by about 13% in the last fiscal year, but he predicted that next year’s growth might decrease about 10%.

Sanford said rising interest rates and a decreased rate of home sales could account for the fall.

At a Wednesday press conference announcing closure of the local assessment roll July 1, Sanford said the county’s total valuation was more than $33.4 billion. Commercial and industrial development made up 22% of the $3.8 billion increase since last year, he said.

He said the housing industry had not matched the growth of other businesses, resulting in a housing shortage among people drawn for newly created jobs.

According to the assessor’s figures, the taxable value of property in Ventura County cities rose by these amounts: Fillmore, 14.24%; Ojai, 12.39%; Oxnard, 13.76%; Santa Paula, 10.44%; Ventura, 9.4%; Port Hueneme, 10.72%; Camarillo, 13.47%; Thousand Oaks, 14.59%; Simi Valley, 13.32%, and Moorpark, 18%.