The State Board of Equalization is announcing a slight increase in property values Statewide. Following two consecutive years of declines, the total value of state-assessed and county assessed property rose to $4.382 trillion dollars for 2011-12 and increase of 3 percent from the previous year. Board of Equalization Spokesperson, Anita Gore says Nevada County property values are still showing declines but the rate of decline is slowing.
“In Nevada County, the new values are down 2.6% from last year. The decline in the rate of assessed values is not as great as it was the year before. The previous year, the decline was 7.2%, so not nearly as bad as the year before.”
The total assessed Value of all Nevada County properties is 15 billion-453 million-24 thousand dollars, reflecting a loss of about $400-million over last year. California’s 15 coastal counties saw their property values grow by a combined 9 percent while values in the remaining 43 inland counties declined by 6 percent.