An improving real estate market and a thriving agricultural economy have helped push Yolo County’s assessment roll over $20 billion for the first time since 2008, Yolo County Assessor Joel Butler has announced.
New construction and changes of ownership also helped increase the roll to $20,475,478,048 of taxable value, a 4.16 precent increase over the prior year, Butler said in a news release.
County staff has reviewed more than 20,000 properties for declines in value since the start of the recession in 2008. Of these, 18,290 are valued below their Proposition 13 base-year value, Butler said. Reductions in assessed value are temporary and are reviewed annually, with comparison made to their market value as of Jan. 1 of each year.
While the majority of these have seen significant reductions in their value for several years, many will see increases this year to reflect the recovering market value, he explained. These values are not limited to the 2 percent annual increase until they are restored to their Prop. 13 factored base-year value.
“While the county’s assessed value increase is important information, it remains secondary to my goal of providing Yolo County taxpayers with fair and equal treatment under California state law,” Butler said in the release.
All areas of Yolo County experienced increases in assessed value, he said. Davis had the largest increase for a city at 5.75 percent, Woodland had the least at 1.88 percent, with Winters at 3.85 percent and West Sacramento at 3.83 percent.
The unincorporated areas of Yolo County grew by 4.58 percent, reflecting the strength of rural and agricultural properties, Butler explained. Increases in commodity prices and land rents are reflected in higher Williamson Act values.
Values will be available on the assessor’s website by July 12 at www.yolocounty.org/index.aspx?page=1603. Property owners will need to have their assessor parcel number or street address to do a search.
Those who do not have access to a computer may call the Assessor’s Office at 530-666-8135. The office is closed on Fridays due to budget cuts.
For information regarding assessment appeals, call 530-666-8195.