Foothill Forum - April 15, 2010 Kristen Spears, Placer County Assessor 14.8% 12.8% 13.6% 13.1% 15.0% 16.5% 8.5% 2.3% -2.6% Assessment Roll Value Change

Foothill Forum - April 15, 2010 Kristen Spears, Placer County Assessor

2001 2002 2003 2004 2005 2006 2007 2008 2009

-5.00%

0.00%

5.00%

10.00%

15.00%

20.00%

1

Year

% o

f C

ha

ng

e

14.8%

12.8%13.6%

13.1% 15.0% 16.5%

8.5%

2.3%

-2.6%

Assessment Roll Value Change

Kristen Spears, Placer County AssessorApril 15, 2010

2009 Assessment Roll

SECURED ASSESSMENT ROLLResidential Assessments 143,808Commercial/Industrial Assessments 7,602Other Assessments 9,014Total 160,424** 39% recognized decline

UNSECURED ASSESSMENT ROLLBusiness Assessments 5,609Boats 6,175Airplanes 358Other Assessments 1,522Total 13,664


Transfer/Foreclosure Relationship

0

5000

10000

15000

20000

25000

2005 2006 2007 2008 2009 2010

ROLL YEARSTransfer Foreclosed

22,25120,787

17,486 17,634

14,866

3,773

30

525

2,464

2,7401,272304

(THRU MARCH 17)


010,00020,00030,00040,00050,00060,00070,000

2005 2006 2007 2008 2009 YEAR Properties on Prop 8

2005 5,803 2006 5,704 2007 17,865 2008 35,783 2009 63,197

# of

Pro

pert

ies

Proactive Decline in Value Program


Proposition 13 Proposition 13 passed in 1978, established the base

year value concept for property tax assessments

Offers property owners protection by holding assessed value increases to a maximum 2% inflationary increase per year

Under Proposition 13, assessments for the year 1975-76 serve as the original base year value

Thereafter, a new base year value is established whenever a property is purchased, newly constructed or changes ownership


What is Proposition 8? It allows the Assessor to temporarily lower the assessed value of

property

It is applied only when the market value of the total property on the January 1st lien date is less than the Proposition 13 base year value indexed at a maximum of 2% per year

Assessor can perform a proactive mass-review of properties throughout the county to help property owners avoid the need for filing appeals for property tax relief in a declining market

Year 1 $500,000 $500,000

Year 2 $510,000 $480,000

Year 3 $520,200 $510,000

Year 4 $530,604 $550,000

$500,000 P13

$480,000 P8

$510,000 P8

$530,604 P13

Example of Market Decline & Recovery Base Value Market Value Assessed Value


News for 2010-2011 Slight Decline for P13 Property Tax Values

California Consumer Price Index (CPI) <.237%> Example:

2009-2010 P13 Value $550,0002010-2011 P13 Value $548,697

Continue Residential Decline in Value Review Program

Mass Commercial/Industrial Decline In Value Program Letters sent to property owners requesting info to review their

property value as of January 1, 2010 Current Appraisal Rent Roll

E-Filing available for Business Property Owners

Vacancy Rate Re-negotiated Lease


Important DatesJan 1

Lien Date

Feb 15 Deadline for filing most exemption claims

April 10 2nd Secured Prop. Tax Installment Due (Treasurer Tax Collector)

May 7 Last Day to file Bus Prop Stmt without penalty

June 30 Assessment Roll Completed and Delivered to the Auditor

July 1Fiscal Year Begins

July 2-Sept 15 Appeal Application Filing Period (Clerk of the Board)

Mid July Value Notices mailed for secured roll

Start of Decline In Value (Proposition 8) Value Review Filings to Assessor

Aug 31 Unsecured Property Tax Due(Treasurer Tax Collector)

Dec 10 1st Secured Property tax Installment Due (Treasurer Tax Collector)

Dec 31 Decline In Value (Proposition 8) Request for Review Deadline


New Supplemental Estimator


Placer County Assessor Kristen Spears Website: www.placer.ca.gov/assessor

Telephone: (530) 889-4300 Address:

2980 Richardson Drive Auburn 95603

Contact Information

Supplemental Property Tax Estimator Business Property Statement E-Filing Customer Service Survey

Assessment Inquiry by Parcel Frequently Asked Questions Fillable Assessment Forms Assessment Roll Facts

Documents

Foothill Forum - April 15, 2010 Kristen Spears, Placer County Assessor 14.8% 12.8% 13.6% 13.1% 15.0% 16.5% 8.5% 2.3% -2.6% Assessment Roll Value Change