#  City’s Assessed Value Increases to $926 Billion Despite the Palisades Fire

     Details    Jack Humphreville   ![logo](https://www.citywatchla.com//templates/ja_teline_v/images/logo.png)         July 27 2026      [  ![](https://www.citywatchla.com/images/stories/July-2026/059m.jpg#joomlaImage://local-images/stories/July-2026/059m.jpg?width=1120&height=744)    ](https://www.citywatchla.com/la-watchdog/33110-citys-assessed-value-increases-to-926-billion-despite-the-palisades-fire)

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 LA WATCHDOG - County Assessor Jeff Prang announced that Assessed Value of the 2.4 million parcels in Los Angeles County reached a record $2.27 trillion despite the impact of the “devastating wildfires that swept through the Pacific Palisades and Altadena communities.” Overall, the Assessment Role as of January 1st increased by $96 billion (4.4%) over the 2025 valuation.

The City’s Assessed Value of its 800,000 parcels increased by $39 billion (4.4%) to a record $926 billion. This will provide the City with total property tax revenue of around $2.3 billion, an increase of about $100 million over the previous year. Actual property tax revenue may even exceed budgeted amounts. Importantly, property taxes are the City’s largest source of revenue, representing about 26% of General Fund revenue.

The City represents 41% of the County’s Assessment Role, an amount almost equal to its share of the population (40%). The City’s has only 11% of the County’s land mass.

Underlying the $96 billion (4.4%) increase in the County’s Assessment Role is $47 billion resulting from increased assessment on sales which eliminates the protection of Prop 13. Inflation adjustments of 2% contributed $43 billion while new construction added $11 billion.

\[Note: The Assessor indicated that the County’s median home sale price was $982,000.\]

On the other hand, there were downward assessments on 16,000 properties totaling almost $12 billion. And over the last two years, the hit was $28 billion, demonstrating the impact of the Palisades and Altadena wildfires. This probably cost our cash strapped City at least $40 million in revenue.

While Prop 13 has protected homeowners from massive tax increases that would have resulted from higher property values, it has also provided the City will a reliable cash flow, one that has increased for 16 consecutive years. This facilitates long range planning, at least to the extent that there is any planning.

The Assessor also mentioned that the “2026 Assessment Role also marks the second consecutive year the entire Roll has been completed using the Office’s new digital, cloud-based assessment technology platform, demonstrating the resiliency and efficiency of its technology transformation.”

Prang and his team deserve high praise for bringing in the new system on time and on budget. Just think of all the other government agencies who have blown it when upgrading their technology platforms. DWP’s billing system. The DMV. The State’s FI$Cal that still is a mess. The City’s Human Resource and Payroll system. And many others throughout the City, County, and State.

(Jack Humphreville writes the LA Watchdog column for CityWatch, where he covers city finances, utilities, and accountability at City Hall. He is President of the DWP Advocacy Committee, serves as the Budget and DWP representative for the Greater Wilshire Neighborhood Council, and is a longtime Neighborhood Council Budget Advocate. With a sharp focus on fiscal responsibility and transparency, Jack brings an informed and independent voice to Los Angeles civic affairs. He can be reached at <lajack@gmail.com>.)

  - [  Next Article **Unfunded Pensions Are Intergenerational Theft** ](https://www.citywatchla.com/index.php?option=com_content&view=article&id=33094:unfunded-pensions-are-intergenerational-theft&catid=12)
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