News release
Despite devastating wildfires that destroyed thousands of homes and scorched wide swaths of Altadena, Pacific Palisades and Malibu, Los Angeles County Assessor Jeff Prang announced the 2025 Assessment Roll has increased by $82 billion or 3.91% over last year, marking 15 years of continuous growth with an estimated net local roll value of over $2 trillion.
The 2025 Assessment Roll’s growth translates to $2.176 trillion in total net value that will put more than $20 billion in property tax dollars toward public services such as public education, first responders and health care workers, as well as other county, municipal and public education services, the Assessor’s Office announced in a news release.
The assessor establishes the assessed value of all taxable property in Los Angeles County each year as required by the state Constitution. Taxable property includes land and buildings, as well as business property including furniture, machinery and equipment. Assessments are based on property values as of Jan. 1, 2025, and, once determined, are placed on an inventory list called the Assessment Roll.
The Assessment Roll provides insight into the state of the real estate market as well as the local economy and works as a valuable tool for local governments as they prepare their annual budgets in anticipation of property tax revenues, the release said.
“As I said when I presented the forecast to the Board of Supervisors in May, this has been a very challenging year, highlighted by the devastation of the January wildfires that laid to waste large sections of Altadena and the Pacific Palisades,” Prang said in the release. “The wildfires impacted more than 23,000 property parcels, including the total loss of over 10,000 homes, which significantly decreased property tax revenue. However, we are committed to ensuring property owners receive the assessment relief they are entitled in a timely manner.”
While the housing market has shown signs of slowing, median home sales prices remained robust, reaching a high of $950,000, the release said. In fact, property transfers served as the single most significant factor contributing to this year’s roll growth, adding $51 billion in additional value.
The inflation adjustment mandated under Proposition 13 was also a significant factor that contributed to Assessment Roll growth. This year, the California Consumer Price Index trended well beyond the Proposition 13 cap, so the maximum of 2% inflation factor was applied. This resulted in a $41 billion increase to the 2025 Assessment Roll.
Although wildfire response efforts diverted resources away from new construction, the Assessor’s Office implemented new strategies to maintain productivity and prioritize high-value projects, the release said. As a result, new construction contributed an additional $8 billion to the 2025 roll.
This growth does not mean property owners will be subject to a corresponding increase on their annual property tax bills, the release said. Most property owners will see only a 2% adjustment prescribed by Proposition 13.
The 2025 Assessment Roll consists of 2,398,007 taxable real property parcels, 160,367 business property assessments, 32,733 boats, and 3,037 aircraft.
To access the 2025 Assessment Roll, go to assessor.lacounty.gov/news-information/annualroll.
