Napa County Assessment Roll Sits Record $ 45.5 Billion | Local News
However, the value on the assessment roll used to determine property taxes is increasing. Of that $ 1.48 billion increase, $ 560 million comes from the inflationary increase in Proposition 13 on homes and other properties.
By passing Proposition 13 in 1978, voters capped property tax increases on homes and other properties that don’t change hands at 2% per year. Guardian said the increase for this roll is just over 1%.
New non-residential construction added an additional $ 254.5 million in assessed value. The remainder of the increase comes from the change in ownership that reset the Proposition 13 baseline years, and new residential construction.
The five municipalities have seen their total taxable value increase. Napa grew 3.59%, American Canyon 4.18%, Calistoga 7.65%, St. Helena 3.4%, and Yountville 0.9 %, according to a county press release.
Guardian shared the information from the assessment roll with the county supervisory board on Tuesday.
Supervisory Board Chairman Alfredo Pedroza said the value of the assessment roll is more than just a number. Property taxes are one of the most stable sources of revenue for Napa County.
“As appraisal values increase, it potentially means more revenue for Napa County which means we can invest in our community,” he said.
Guardian, who is elected by voters as an assessor and not appointed, has previously said his job is to ensure that some local owners receive fair values that reflect market conditions.