The assessed value of property in Los Angeles County increased 5.91 percent from 2022 to 2023, resulting in an increase of revenue for schools and local government, Los Angeles County Assessor Jeffrey Prang reported July 27. This is the 13th consecutive year of growth in the cumulative assessed value of property in the county, Prang said.
Legislation overturning critical provisions of Proposition 13 by lowering the vote threshold for local special taxes was approved July 12 by the Assembly Local Government Committee.
Property tax revenue is set to increase throughout the state as county assessors report significant increases in the assessed values of properties.
