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Property tax revenue decline - it is now official
Original post made
by Peter Carpenter, Atherton: Lindenwood,
on Jul 13, 2010
(Redwood City, CA) Warren Slocum, San Mateo County Assessor, signed the 2010-11 Property Assessment Roll on June 30, 2010, making it official. “The assessment roll numbers tell the continuing story of depressed housing and commercial markets and a lagging local economy,” explained Slocum. The 2010-11 Property Assessment Roll decreased 1.39 percent, which represents a loss of nearly $2 Billion in Assessed Property Value as compared with last year’s roll.
“In my tenure as Assessor, San Mateo County has never experienced a year to year decline in assessed value before,” said Slocum, “and to my knowledge the last roll decline occurred in 1976 before the enactment of Proposition 13 in 1978.”
Atherton -0.1% vs a budgeted +1.3% increase
Menlo Park +1.2% vs a budgeted +4.0% increase
Somebody better get their pencils sharpened.