They’re a vital source of service revenue. And Nevada County’s assessed values grew six-point-two percent last year, a positive reflection of overall property value growth, despite some recent headwinds. That’s a total of 25-point-7 billion dollars. County Assessor Rolf Kleinhans says that’s down nearly a point from the previous year. But it’s still higher than the more typical rates of around five-percent. And that was actually what was found in Grass Valley and Nevada City and unincorporated areas. But he says Truckee skewed the numbers…

click to listen to Rolf Kleinhans

Under Proposition 8, the Assessor must annually review lien date fair market values. That’s to determine whether an adjustment is warranted on properties that have received temporary reduced value in a prior year. Values to those properties may be adjusted upward, to reflect an improvement in local real estate values up to the property’s Proposition 13 factored base year value. And Kleinhans says given the mixed local market of value increases and decreases, around 53-hundred properties were added to the Proposition 8 roll. That’s nearly double the previous year…

click to listen to Rolf Kleinhans

For the remaining 54-thousand-700 taxable properties on Prop 13, owners will see a two-percent increase in their assessed value this year. That reflects the state-determined inflation rate.