LA County Property Valued At $1.89 Trillion For 2022

Los Angeles County Assessor Jeff Prang certified the 2022 Assessment Roll, reflecting economic growth for the 12th-consecutive year with the increase in assessed value of all taxable property countywide.

The 2022 Assessment Roll or Roll grew by a record $122 billion, (or 6.95%), over the prior year to a $1.89 trillion in total net value. The total net value translates to nearly $19 billion in property tax dollars for vital public services such as public education, infrastructure, first responders, and healthcare workers as well as other services.

The Roll is the inventory for all taxable property in the county and, as such, can provide some insight into the health of the real estate market. Assessments are based on the value of property as of the lien date of January 1, 2022.

The Roll is also driven in large measure by real property sales, which added $69.6 billion to the Roll; the CPI adjustment mandated by Proposition 13 reached its full potential of 2%, adding an additional $34.2 billion; and new construction added $6.3 billion.

Assessor Prang also reminded residents that the growth does not mean property owners will be subject to a corresponding increase on their annual property tax bills. Most property owners will see only a 2% adjustment prescribed by Prop. 13.

The 2022 Assessment Roll comprises 2,589,521 million real estate parcels and business assessments, including 1,889,000 single-family homes, 250,000 apartment complexes, 248,000 commercial and industrial properties and more than 165,000 business property assessments. A full list growth and parcel count for cities and unincorporated areas is available here.