LOS ANGELES (CNS) – Los Angeles County’s total assessed property value surpassed $2.2 trillion this year despite the economic fallout from the wildfires in Pacific Palisades and Altadena and a slowing real estate market, Assessor Jeff Prang announced Tuesday.
The county’s 2026 Assessment Roll reached a record $2.272 trillion in net taxable value, an increase of $96 billion, or 4.42%, over the previous year and marking the 16th consecutive year of growth, according to Prang.
The increase is expected to generate more than $27 billion in property tax revenue to support public schools, public safety, health care, libraries, parks and other local government services throughout Los Angeles County.
“When I presented the forecast to the Board of Supervisors in May, I emphasized 2025-26 was a challenging year, and the impact of January’s devastating wildfires will be felt for years to come,” Prang said in a statement. “Even so, Los Angeles County’s economy continues to demonstrate remarkable resilience. Not only did we maintain value growth, we exceeded our May forecast of 3.9%, finishing the year at 4.42%.”
According to the assessor’s office, new construction added more than $12 billion to the assessment roll despite staff resources being diverted to assist property owners affected by the fires.
Property transfers accounted for the largest share of growth, adding $49 billion in assessed value, while the maximum 2% inflation adjustment allowed under Proposition 13 contributed roughly $43 billion.
The median home sale price in Los Angeles County climbed to $982,000 during the assessment period, according to the assessor’s office.
Los Angeles posted the county’s highest citywide assessed value at $926.1 billion, followed by Long Beach at $84.5 billion and Santa Monica at $54.9 billion.
Irwindale recorded the fastest growth in assessed value at 15%, followed by Vernon at 13.3% and Hidden Hills at 11.7%.
The 2026 Assessment Roll includes nearly 2.4 million taxable real property parcels, more than 157,000 business property assessments, nearly 32,000 boats and more than 3,500 aircraft.
Under Proposition 13, most property owners will not see tax bills rise by the same percentage as the assessment roll because annual increases in assessed value generally are capped at 2%.
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