VENTURA, Calif. – County Assessor Dan Goodwin has announced the certification and delivery of the annual assessment roll, which contains a record $134.9 billion in taxable value. Most properties had modest increases of only percent, being assessed according to the rules set by a 1978 ballot measure known as Proposition 13. This year’s assessment roll will be the basis for over $1.4 billion in tax revenue. As the seventh consecutive annual increase in roll value, this year’s record assessment roll reflects a 4.4 percent increase over last year. The annual roll value has more than doubled from $60.9 billion in 2001, reflecting an average annual increase of over $4.3 billion in taxable value.
Goodwin explains, “Proposition 13 has created stability. Homeowners and small businesses enjoy the predictability that Proposition 13 provides for their pocketbooks, while important government programs like schools, police and fire can count on reliable funding.”
Prior to Proposition 13, tax bills were based on annual market values that can vary greatly from year to year. According to the California Association of Realtors, the median home price in Ventura County jumped 12.5 percent from $587,250 in January 2017, to $660,720 in January 2018. Without Proposition 13, the assessment roll would have extreme peaks and valleys similar to the historical median home price. Under Proposition 13, the assessment roll has proven more stable.
In addition to 135,605 home owner exemptions (each of which protects $7,000 in value from taxation), the Assessor approved 3,085 other exemptions this year, totaling $3.7 billion. These are among a host of categories including Disabled Veterans, Hospitals, Churches, Colleges, Museums, and Welfare Exemptions for uses like low-income housing and non-profit organizations.
The Assessor will mail value notices to 247,187 taxpayers by August 1st. Questions about the value notice can be directed to the Assessor at (805) 654-2181. More information is also available at assessor.countyofventura.org. Assessment Appeal Applications can be filed with the Clerk of the Assessment Appeals Board between July 2 and September 17th by calling (805) 654-2251 or visiting ventura.org/cob/aab.
Dan Goodwin has served Ventura County residents as Assessor for 19 years. To learn more about property taxes, please visit assessor.countyofventura.org.