---

 [ LA WATCHDOG ](https://www.citywatchla.com/index.php?option=com_content&view=category&id=12)

#  Bull Market Spirals City’s Assessed Value to More Than $600 Billion

LA WATCHDOG--We have the bad news, the good news, and the even better news.

Written by Jack Humphreville.

 ![](https://www.citywatchla.com/images/stories/Aug-2018/069a.png)

August 27 2018

<a class="a2a_button_facebook"></a><a class="a2a_button_twitter"></a><a class="a2a_button_email"></a><a class="a2a_button_print"></a>[](https://www.addtoany.com/share)

 [Comments](#disqus_thread)

LA WATCHDOG--We have the bad news, the good news, and the even better news.

The bad news is that housing prices are increasing beyond the reach of many Angelenos.

The good news is that homeowners are benefitting from higher valuations for their homes.

The even better news, as far as the City Hall is concerned, is that revenues from property taxes are soaring.

According to the County Assessor’s recent report, the value of the City’s 788,612 parcels increased to $611 billion, an astounding 7.6%, $43 billion bump from the prior year’s valuation of $568 billion.

Based in the 1% tax rate as mandated by Proposition 13, Angelenos will pay $6.1 billion in real estate taxes, a $430 million increase from the prior year.

Of this amount, about 25%, or $1.5 billion, will be allocated to the City while the bulk of the remaining 75% will be directed to LAUSD (Los Angeles Unified School District) and the County of Los Angeles.

![](https://www.citywatchla.com/images/stories/Aug-2018/069b.png)It is not surprising, then, that City Hall is approving a massive number of luxury, high rise developments throughout the City, the hell with the impact on our residential neighborhoods, on the stock of affordable housing, and on our already congested streets.

Of course, this building spree is helped by generous campaign contributions from real estate developers, a situation that the Ethics Commission and the City Council refuse to address despite previous promises made in January 2017 to combat Measure S, the Neighborhood Integrity Initiative, that was on the March 2017 ballot.

Over the last five years, the City’s Grand List has increased by almost 50%, from $441 billion to the previously mentioned $611 billion, a compounded growth rate of a very healthy 7% a year.

This $170 billion increase in the assessed value resulted in an additional $425 million of tax revenue for the City over the last five years.

Despite this influx of cash, along with more than $500 million from other selected taxes over the last five years, the City is still unable to balance its budget or eliminate the Structural Deficit.

Eric, what the hell is going on? Is deficit spending part of your Presidential platform?

\--------

*\[Note: Angelenos will also be paying additional taxes over and above the 1% rate. This will increase our property tax bill by almost 25%. Voted Indebtedness for LAUSD, the Community Colleges, the City’s General Obligation Bonds, and the Metropolitan Water District is responsible for 20% of the increase. Direct Assessments consisting of eight parcel taxes account for about 5% of the increase. Overall, these add-ons are estimated to total around $600 million.\]*

*-cw*

[![](https://www.citywatchla.com/images/ME%20DENTAL%20SPA/me%20dental%202026%20final.jpg)](http://medentalspa.com/)

 ![](https://www.citywatchla.com/images/banners/signup-for-cw.png)

## Get The News In Your Email Inbox Mondays &amp; Thursdays

 Message

 [ ![LA DWP #2 (Pay Your Bill Help)](https://www.citywatchla.com/images/LADWP/dwp%20level%20pay%205-7-25.jpg) ](https://www.citywatchla.com/component/banners/click/82 "LA DWP #2 (Pay Your Bill Help)")

 [ ![Home - HHR Rent is too High - SB-2](https://www.citywatchla.com/images/HHR/AHF-rent-too-high.jpg) ](https://www.citywatchla.com/component/banners/click/104 "Home - HHR Rent is too High - SB-2")

[![](https://www.citywatchla.com/images/banners/something%20you%20should%20know2.jpg)](https://www.citywatchla.com/podcasts)

 ---

##  Featured CityWatch Stories

 [ ![](https://www.citywatchla.com/media/yootheme/cache/fd/064h-fdb0b507.jpg) ](https://www.citywatchla.com/index.php?option=com_content&view=article&id=29355:remembering-ken-draper-citywatch-and-transparency-are-his-legacy&catid=12)

### [Remembering Ken Draper: CityWatch and Transparency Are his Legacy](https://www.citywatchla.com/index.php?option=com_content&view=article&id=29355:remembering-ken-draper-citywatch-and-transparency-are-his-legacy&catid=12)

LA WATCHDOG - Ken Draper, the editor and publisher of CityWatch for more than 20 years, passed away on August 8, 2022…

 [ ![](https://www.citywatchla.com/media/yootheme/cache/0f/061a-0f1ada2f.jpg) ](https://www.citywatchla.com/index.php?option=com_content&view=article&id=33148:brace-yourself-for-a-worse-housing-crisis&catid=398)

### [Brace Yourself For A Worse Housing Crisis](https://www.citywatchla.com/index.php?option=com_content&view=article&id=33148:brace-yourself-for-a-worse-housing-crisis&catid=398)

PLANNING WATCH - The California State Legislature will soon vote on the following draft legislation. Please carefully…

 [ ![](https://www.citywatchla.com/media/yootheme/cache/54/064j-54f0ecbd.jpg) ](https://www.citywatchla.com/index.php?option=com_content&view=article&id=33204:be-prepared-to-protect-our-democracy-in-november-from-a-trumpian-plot&catid=9)

### [Be Prepared to Protect Our Democracy in November From a Trumpian Plot](https://www.citywatchla.com/index.php?option=com_content&view=article&id=33204:be-prepared-to-protect-our-democracy-in-november-from-a-trumpian-plot&catid=9)

BE AWARE - Back in the days when conservatives were so hungry for media platforms that they’d come on progressive shows…

 [ ![](https://www.citywatchla.com/media/yootheme/cache/ab/063e-ab3b1ba1.jpg) ](https://www.citywatchla.com/index.php?option=com_content&view=article&id=33174:nithya-raman-loses-the-homelessness-gavel-her-record-explains-why&catid=396)

### [Nithya Raman Loses the Homelessness Gavel — Her Record Explains Why](https://www.citywatchla.com/index.php?option=com_content&view=article&id=33174:nithya-raman-loses-the-homelessness-gavel-her-record-explains-why&catid=396)

THE BOTTOM LINE - Raman wants Los Angeles voters to promote her to mayor. Before handing her the keys to City Hall, v…

 [ ![](https://www.citywatchla.com/media/yootheme/cache/75/064a-75d5dbb3.jpg) ](https://www.citywatchla.com/index.php?option=com_content&view=article&id=33199:your-boss-owns-your-workday-not-your-brain&catid=425)

### [Your Boss Owns Your Workday—Not Your Brain](https://www.citywatchla.com/index.php?option=com_content&view=article&id=33199:your-boss-owns-your-workday-not-your-brain&catid=425)

THE NEURAL WORKPLACE - California must protect workers before workplace surveillance crosses the final frontier: the hu…

---

##  [ LA WATCHDOG ](https://www.citywatchla.com/index.php?option=com_content&view=category&id=12)

 [ ![](https://www.citywatchla.com/images/stories/Aug-2026/064h.jpg) ](https://www.citywatchla.com/index.php?option=com_content&view=article&id=33202:proposition-38-should-taxpayers-finance-medical-research&catid=12)### [Proposition 38: Should Taxpayers Finance Medical Research?](https://www.citywatchla.com/index.php?option=com_content&view=article&id=33202:proposition-38-should-taxpayers-finance-medical-research&catid=12)

 [ ![](https://www.citywatchla.com/images/stories/July-2026/059m.jpg) ](https://www.citywatchla.com/index.php?option=com_content&view=article&id=33110:citys-assessed-value-increases-to-926-billion-despite-the-palisades-fire&catid=12)### [City’s Assessed Value Increases to $926 Billion Despite the Palisades Fire](https://www.citywatchla.com/index.php?option=com_content&view=article&id=33110:citys-assessed-value-increases-to-926-billion-despite-the-palisades-fire&catid=12)

 [ ![](https://www.citywatchla.com/images/stories/July-2026/056n.jpg) ](https://www.citywatchla.com/index.php?option=com_content&view=article&id=33053:lineage-warehouse-fire-the-lawyers-feast&catid=12)### [Lineage Warehouse Fire: The Lawyers Feast](https://www.citywatchla.com/index.php?option=com_content&view=article&id=33053:lineage-warehouse-fire-the-lawyers-feast&catid=12)

 [ ![](https://www.citywatchla.com/images/stories/July-2026/055q.jpg) ](https://www.citywatchla.com/index.php?option=com_content&view=article&id=33023:city-attorney-calls-for-independent-audit-of-stay-housed-la&catid=12)### [City Attorney Calls for Independent Audit of Stay Housed LA](https://www.citywatchla.com/index.php?option=com_content&view=article&id=33023:city-attorney-calls-for-independent-audit-of-stay-housed-la&catid=12)

 [ ![](https://www.citywatchla.com/images/stories/June-2026/051k.jpg) ](https://www.citywatchla.com/index.php?option=com_content&view=article&id=32941:las-budget-woes-increase&catid=12)### [LA’s Budget Woes Increase](https://www.citywatchla.com/index.php?option=com_content&view=article&id=32941:las-budget-woes-increase&catid=12)
<div data-id="1" 
	class="eb-inst eb-hide eb-emailform eb-1 eboxContentLocker"
	data-options='{"trigger":"onPageLoad","trigger_selector":"","delay":3000,"early_trigger":true,"scroll_depth":"percentage","scroll_depth_value":80,"firing_frequency":1,"reverse_scroll_close":true,"threshold":0,"close_out_viewport":false,"exit_timer":1000,"idle_time":10000,"close_on_esc":false,"animation_open":"slideInDown","animation_close":"fadeOutDown","animation_duration":400,"disable_page_scroll":true,"test_mode":false,"debug":false,"ga_tracking":true,"ga_tracking_id":"G-P16BQ7X1SW","ga_tracking_event_category":"EngageBox","ga_tracking_event_label":"Box #1 - Global Email Signup Form","auto_focus":false}'
	data-type='popup'
	>

	<button type="button" data-ebox-cmd="close" class="eb-close placement-outside" aria-label="Close">
	<img alt="close popup button" />
	<span aria-hidden="true">&times;</span>
</button>
	<div class="eb-dialog eb-formVer" role="dialog" aria-modal="true" id="dialog1" aria-label="dialog1">
		
		<button type="button" data-ebox-cmd="close" class="eb-close placement-inside" aria-label="Close">
	<img alt="close popup button" />
	<span aria-hidden="true">&times;</span>
</button>	
		<div class="eb-container">
						<div class="eb-content">
				
<form action="https://citywatchla.us2.list-manage.com/subscribe/post?u=34d69f33624fd058ee9b56516&amp;id=4bfa422f51&amp;f_id=00d6c2e1f0" class="eb" method="post" id="mcform-1" name="mcform-1" target="_blank">
			<div class="eb-form-header"><p><img src="/images/2023/06/be-a-city-watcher.png" alt="be a city watcher" width="350" height="97" loading="lazy" data-path="local-images:/2023/06/be-a-city-watcher.png"></p>
<p>Sign up to receive our special e-news blasts on Monday and Thursday evenings!</p></div>
	
					<div class="eb-field-row">

			
			
			
			<input class="eb-input" type="email" name="EMAIL"  placeholder="Email address"  id="EMAIL" value="" required>

			
		</div>
										
	<div class="eb-footer">
    	<button class="eb-btn" type="submit" name="subscribe" style="background-color:rgba(93, 183, 93, 1);color:rgba(255, 255, 255, 1)">
    		Sign up    	</button>
    </div>
</form>			</div>
		</div>
	</div>	
</div>
<div data-id="3" 
	class="eb-inst eb-hide eb-yesno eb-3 "
	data-options='{"trigger":"onScrollDepth","trigger_selector":"","delay":0,"early_trigger":false,"scroll_depth":"percentage","scroll_depth_value":80,"firing_frequency":2,"reverse_scroll_close":false,"threshold":0,"close_out_viewport":false,"exit_timer":1000,"idle_time":1000,"close_on_esc":false,"animation_open":"fadeInUp","animation_close":"fadeOut","animation_duration":300,"disable_page_scroll":false,"test_mode":false,"debug":false,"ga_tracking":true,"ga_tracking_id":"G-P16BQ7X1SW","ga_tracking_event_category":"EngageBox","ga_tracking_event_label":"Box #3 - Yes \/ No Donation Popup Box","auto_focus":false}'
	data-type='popup'
	>

	<button type="button" data-ebox-cmd="close" class="eb-close placement-outside" aria-label="Close">
	<img alt="close popup button" />
	<span aria-hidden="true">&times;</span>
</button>
	<div class="eb-dialog " role="dialog" aria-modal="true" id="dialog3" aria-label="dialog3">
		
		<button type="button" data-ebox-cmd="close" class="eb-close placement-inside" aria-label="Close">
	<img alt="close popup button" />
	<span aria-hidden="true">&times;</span>
</button>	
		<div class="eb-container">
						<div class="eb-content">
				
<div class="ebox-yes-no">
	<div class="ebox-yn-text">
		
		
		<div class="ebox-yn-headline" style="font-size:22px;color:#888888">
			<p>If you only give once a month, would you consider giving to CityWatch?</p>
<p>Your support fuels our mission to promote and facilitate civic engagement and neighborhood empowerment, and to hold area government and its politicians accountable.</p>
<p>Would you like to help? Even if you can only give $5, it will make a difference.</p>		</div>
			</div>
	
	<div class="ebox-ys-buttons" style="font-size: 16px;">
		
<a
					data-ebox-prevent="0"
		data-ebox-cmd="close"
				target="_self"
		href="https://www.citywatchla.com/donate"
		rel="noopener"
	
	
	
	
	class="ebox-ys-btn"
	style="background-color:#2ec664;color:#ffffff;min-width:100px">
	Yes
	</a>
<a
	
	
			data-ebox-cmd="close"
		href="#"
	
	
	class="ebox-ys-btn"
	style="background-color:#ef2345;color:#ffffff;min-width:100px">
	Not Right Now
	</a>	</div>

	</div>			</div>
		</div>
	</div>	
</div>