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A Look at Property Value Assessments Increase

LOS ANGELES-Local expert Scott Farb of Cohn Reznick tells GlobeSt.com that inflation doesn't appear to be a concern for real estate investors for the near future, but he says there is a mixed message on the overall optimism.

By Natalie Dolce | Updated on January 28, 2014

LOS ANGELES-Every December, the California State Board of Equalization announces the inflation factor for the coming year’s property assessment roll. The factor is determined using the percentage change (rounded to the nearest one-thousandth of one percent) in the California Consumer Price Index, from October of the prior fiscal year to October of the current fiscal year, but cannot exceed 2%. The 2013 CCPI percentage change was 1.02, resulting in an assessed value increase of 2%.

For the 2014 assessment roll year (July 1, 2014-June 30, 2015), the inflation factor in California for 2014 is 1.00454, rather than the typical 1.02, explains Dallas-based global tax services firm, Ryan.

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