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.
Property tax revenue is set to increase throughout the state as county assessors report significant increases in the assessed values of properties.
Property tax revenue increased 4 percent ($3.2 billion) statewide from 2021 to 2022, growing to $83.1 billion in local
property tax revenue that supports schools and local government, the State Board of Equalization reported April 18 with
the release of its 2021-22 Annual Report.
Los Angeles County’s property tax revenue will grow significantly this year, as the county assessment roll grew by a record $122 billion (6.95 percent) during the past year, Assessor Jeff Prang announced July 26.
County assessors this month continued to report growth in the value of taxable property in their areas, which will translate to more property tax revenue for schools and local government.
