Assessor’s Office has Released its 2024 Assessment Roll

The Assessor’s Office has released its 2024 Assessment Roll. The Assessment Roll is an annual report generated showing an inventory of all taxable property in Los Angeles County. The Roll is the foundation of the County’s property tax system, which helps local governments in the budgeting process, provide insight into the housing market, and gives an overall performance of the County’s economic health. Whether you are a realtor, city leader, entrepreneur, or a curious individual, I hope you find the Roll insightful to better understand the Assessor’s significant role in the property tax system.

This 2024 year marked its 14th consecutive growth year for assessed property values in LA County. The gross assessed value reached $2.178 trillion, and the net taxable assessed value, after exemptions (charitable, homeowners, disabled veterans, etc.), is a record $2.094 trillion, which is $97 billion(+4.85%) greater than last year. This included an assessment of 2,395,924 taxable real property parcels, 163,565 business property assessments, 32,685 boats, and 3,033 aircraft. To view the 88 cities and its updated city data, please see the attached Roll or visit the link, https://assessor.lacounty.gov/news-information/annualroll.

Additionally, included in the 2024 Assessment Roll are over $83 billion in total exemptions, translating to over $836 million in tax savings for Los Angeles County property owners at the 1% tax rate. This resulted in a total of $925 million tax savings from over 925,000 homeowners’ exemptions, 14,000 institutional exemptions (church, religious, welfare), and more than 5,600 disabled veterans exemptions. For more information on our exemptions, please visit our website and continue to inform your family, friends, and clients know about our property tax savings programs.