Property Values Increase Slightly
The assessed value of property in both Tuolumne and Calaveras Counties increased this year over last year.
Tuolumne County Assessor-Recorder, Ken Caetano, says all locally assessed property in Tuolumne is estimated to be almost 6.2 billion. That is an increase of 2.43% from last year. Caetano says “For nearly 6,000 properties this will cause increases in assessed value in the neighborhood of 10% over last year.”
There are approximately 40,000 taxable properties in Tuolumne County and 11,563 notices, or more than 25% of property owners will be sent valuation notices. Valuation Notices show the “Total Taxable” value of the property which will be the basis for the 2014-15 property tax bill. Properties in Tuolumne that increase by less than 1.454% in value will not receive a notice. Proposition 13 outlines who is sent a notice, allowing the county money to save money on postage.
Calaveras County Assessor, Leslie Davis, says this year’s assessment roll totals almost $5.8 billion. That is an increase of 6% from last year.
Davis says, “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.” As with Tuolumne, this reflects good economic news, but tax bills will be higher in the coming year.
The assessment rolls provide the basis for funding local government services. In Calaveras almost two-thirds of the property taxes are shared by local school districts.
Calaveras will mail out more than 26,500 valuation increase notices to property owners.
In Calaveras and Tuolumne the number of properties with Homeowners’ Exemptions continues to decline. Caetano says this possibly points to more properties owned by people living outside the county or by banks. Caetano will present a summary in a report to the Board of Supervisors in July.
Davis says in summary even though Calaveras has had an over all increase the value, business property has declined more than the decline in the number of businesses. She says, “The lack of stability is ’cause for caution.'”