Office of Assessor News Release

$4.1 Billion Increase in Placer Assessment Roll Shatters Record!

Bruce Dear, Placer County Assessor, announced a 13.7% value increase in this year's property assessment roll. The recently completed local assessment roll rose to $34.6 billion for 2003-2004, an increase of more than $4.1 billion from last year's roll. This year's dollar increase broke last year's record of $3.5 billion. Under the rules of Proposition 13 real estate that has not changed ownership cannot increase more than 2%. The significant countywide increase is attributed to escalating value for properties that changed ownership and to the continued high rate of new construction.

The weak national economy and our state fiscal crisis have yet to put a damper on customer demand and extensive real estate development efforts throughout Placer County.

Among the cities, Lincoln again led with an assessment roll increase of 37.7% since last year. Other increases by city included Auburn 8.7%, Colfax 15.4%, Loomis 10.1% Roseville 14.9% and Rocklin 16.7%. The unincorporated portion of Placer County increased by 9.5%.

The annual property assessment roll, delivered by Dear to the County Auditor, generates property tax revenue that is used to fund education, criminal justice, health, welfare, and many other city and county government services. "Notices of assessed value," are being mailed over the next two weeks to all business property owners and to some real property owners, based on certain changes of status that may have impacted their real estate.

Questions related to property assessments can be directed to the Assessor's office at telephone number (530) 889-4300. You can also obtain information from our website at placer.ca.gov/assessor. For anyone who would like to discuss their assessment in person, the main office of the Assessor Department is located at 2980 Richardson Drive, Auburn, in the DeWitt Center.

Bruce Dear
Placer County Assessor

7/21/03

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