Monday, August 01, 2005

LA County Tax Assessments Up 9.5 %

The huge price appreciation in the California housing market has boosted County tax coffers. The County not only reassesses a home each time it is sold but it also increases the value of homes that are not for sale based on recent sales in the County. The tax increase for a current homeowner will not be as high as one based on a new sale but it will go up. These increases in home value add millions of dollars to the funds available to the County. For many this is welcome news that the County is not so cash strapped as in previous years. Whether the additional funds mean the pot holes in Hawthorne Blvd. will be fixed is another story.

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