Los Angeles County Assessor Jeff Prang’s 2025 assessment roll forecast, submitted May 15 to the county Board of Supervisors, projects a 3.25 percent increase over the prior fiscal year, with an estimated net local roll value of more than $2 trillion.
“This projected increase reflects market trends from prior years that continued in 2024 as well as the effects of the January 2025 wildfires,” Prang wrote in a letter to the supervisors. “While downtown office space has experienced significant declines in value and the housing market has shown signs of slowing, median home sales prices remain strong, reaching $950,000 in August. Despite the decline in sales volume, property transfers continue to be the largest positive contributor to the Assessment Roll, adding an estimated $50 billion in value, followed by the annual CPI inflation adjustment mandated under Proposition 13, which reached its full potential of 2 percent and will add an estimated $41 billion to the 2025 Roll.”
Prang added that the projections “are based on the best information available at this time; however, there are several factors that are subject to change as my staff continues to work diligently to process all assessable values and exemptions prior to roll closure.”
The preliminary figures are reported to the Board of Supervisors annually to assist in the calculation of revenue projections as the board develops the county’s budget. The roll is finalized and the official numbers are released in the summer.
Under Proposition 13, the property tax has been a growing source of revenue for schools and local governments, while individual property owners are protected from unmanageable annual tax increases.