VENTURA, Calif. - County Assessor Dan Goodwin announced the certification and delivery of Ventura County’s annual assessment roll, which now contains a record $141.1 billion in taxable value. As the eighth consecutive annual increase in total roll value, this year’s assessment roll reflects a 4.6 percent increase over last year. While most properties receive a modest increase of 2 percent due to limitations set by a 1978 ballot measure known as Prop 13, some properties may see a larger increase due to sales or other transfers of real estate and new construction. While Prop 13 has protected against rapid growth of taxes on most property, the countywide property tax roll has still increased from $47.9 billion to $141.1 billion, or 195 percent since 1998/99.
However, not all assessments will increase this year. Around 275 properties in Ventura County will have their assessments reduced by a total of almost $100 million in assessed value due to the damage caused by the Hill and Woolsey fires. The roll also reflects more than 762 properties still subject to reduced assessments while property owners rebuild after the Thomas Fire.
Additionally, many properties will receive the benefit of an exemption that exempts all or part of their assessment. A $7,000 exemption, which equates to $70.00 off their taxes, will be applied to 133,269 homeowners that claim their property as their principal residence. Similarly, 1,336 disabled veterans received an exemption of $139,437 or $209,156, depending on their income level. There is also $3.9 billion in exemptions for properties owned and operated by non-profit organizations such as hospitals, churches, colleges, or low-income housing.
In order to prepare this year’s record-breaking assessment roll, Dan Goodwin and his dedicated staff worked diligently to process 36,272 deeds, assess 12,877 transfers, enroll more than 10,700 new construction events, review over 23,400 properties for a decline in value, answer 28,423 taxpayer phone inquiries and resolve over 1,600 assessment appeal cases.
The Assessor will mail value notices to all taxpayers by August 1st. Questions about the value notice can be directed to staff of the Assessor at (805) 654-2181. More information is also available at assessor.countyofventura.org. Assessment Appeal Applications can be filed with the Clerk of the Assessment Appeals Board between July 2nd and September 16th by calling (805) 654-2251 or visiting ventura.org/cob/aab