Assessor

The 56-home Homes 4 Families’ Veteran Enriched Neighborhood, which offers home ownership and family enrichment services to low-income veterans and their families, is under construction at Division Street and Avenue R in Palmdale.

LANCASTER — The cities of Lancaster and Palmdale are among the top 20 highest-value cities out of 88 cities in Los Angeles County, according to the Los Angeles County Assessor’s 2019 annual report.

Lancaster tied with Santa Clarita for the third-highest growth city in assessed property value last year. Palmdale was ninth.

Lancaster’s assessed valuation was more than $12.7 billion, up 7.8% from the 2018 number of more than $11.7 billion. Palmdale’s assessed valuation was more than $13.6 billion, up 5.7% from more than $12.9 billion in 2018.

Countywide, the City of West Hollywood had the highest growth in assessed value with a 11.6% increase from 2018. El Segundo was second at 8.6%. Los Angeles was fourth with 6.8%. Beverly Hills was fifth with 6.7%

Rounding out the top 10 were Downey at 6.5% and Glendale at 6.4%. Manhattan Beach and Redondo Beach tied for eighth at 6.1% each. Long Beach and Santa Monica tied for 10th at 5.5% each.

The top five highest valued cities for 2019 are the City of Los Angeles, with an assessed valuation of $652.9 billion, Long Beach, at $60.2 billion, Santa Monica, at $39.5 billion, Beverly Hills at $36.6 billion and Santa Clarita at $30.7 billion.

Palmdale had the 16th highest assessed valuation in the county. The City has 41,368 single-family residential properties, 420 residential income properties and 6,213 commercial-industrial properties.

Lancaster ranked 19th in total valuation. Lancaster had 42,388 homes, 945 residential income properties and 8,890 commercial-industrial properties.

Overall, the county’s 88 cities and the unincorporated areas saw their assessed valuations grow 6.25%, representing the ninth year consecutive year of growth, Assessor Jeffrey Prang said.

“The net assessed value is nearing $1.7 trillion, $94.41 billion greater than in 2018. Our robust economy has experienced a steady growth since 2011,” Prang said in a statement.

The Office of the Assessor determines ownership and value of all taxable property in the county. Property assessments occur when a change in ownership occurs, upon new construction and when market trends prompt properties’ decline-in-value, according to the report.

The assessment  roll forms the basis from which municipalities, school districts, and special districts derive property tax revenue used to fund public services.

(6) comments

IscoG

We will see in 5 to 10 years

Lovinight

They must have plans to raise property taxes, the dirt roads by my house in the middle of town finally got cleaned up and people already dumping again a day later. It is yard and construction waste mostly, people I am sure were paid to take these loads to the dump but rarely do (yes we have seen them dumping with our own eyes, they do not care).

Jimzan

lol A.V. is L.A.s toilet. People are leaving in droves...lol Fake news at its best.

4Now4Ever

Your comment made me laugh so I did some digging lol.

You think they're lying on this report too?

https://assessor.lacounty.gov/reports/

IscoG

L.a is overrated and expensive. Good people coming from all over will contribute into Making Lancaster a good place to live, homes are much bigger and less expensive. Pollution in l.a os also getting worse

Evan

You are an idiot. Property values are way up, just as the article states...but yeah...go off like the dumbass that you are

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