Nevada County property values increased slightly this year, said Assessor Sue Horne in a Wednesday news release.
The nearly 1 percent increase over last year’s roll means the county’s net assessment roll totaled $14.96 billion, up from last year’s total of $14.8 billion, a $137 million increase in net values.
The .93 percent increase is encouraging in comparison to last year’s 2012/13 FY roll which experienced a 1.25 percent drop in net values from the previous year.
While the overall assessment roll experienced growth in gross assessed values throughout the county, values for commercial business equipment lagged behind the positive trend upward on real estate values, posting a 2.4 percent decrease to $340 million, down from $348 million last year.
Horne said her staff’s great effort enabled her to deliver the 2013/14 assessment roll to the auditor on June 27, ahead of the state-mandated deadline of July 1.
The annual assessment roll generates the property tax revenue used, in part, to fund schools and various local government services, such as law enforcement, roads, public health and safety services, according to the news release.
Since 2008, the Assessor’s Office has analyzed lien date (January 1) fair market values in order to determine whether adjustments for declines in property values below factored base year values are warranted.
Any temporary reductions to assessed value are provided in accordance with California tax law, specifically Proposition 8.
This year, of the 63,380 parcels on the tax assessment roll, 16,311 parcels (26 percent) continue to be classified as Prop. 8 status properties.
Notices of Assessed Value will be mailed this month to property owners whose assessed values have changed, other than properties affected by the annual inflation factored adjustment under Proposition 13.
This year’s inflation factor for all of California property owners is the maximum 2 percent, as determined by the State Board of Equalization.
Property owners can immediately view their 2013 assessed value by visiting www.mynevadacounty.com/nc/assessor/Pages/Find-My-Assessed-Value.aspxtarget="_blank">www.mynevadacounty.com/nc/assessor/Pages/Find-My-Assessed-Value.aspx and clicking on the Find My Assessed Value link.
Property owners can contact assessor staff at 530-265-1232 or 530-582-7825 (Truckee) for any questions regarding their property assessment.
Additionally, assessment questions may be emailed to href="mailto:email@example.com" firstname.lastname@example.org="_blank">email@example.com or property owners may ask their assessment questions in person at the Assessor’s office located at 950 Maidu Ave., Nevada City or in the Truckee office at 10075 Levon Ave., Truckee.
The Assessor’s Office is open from 8 a.m.-5 p.m. Monday through Friday, except for holidays.