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County Sees Increase In Assessed Property Values

Some good economic news for Nevada County…

Listen to Sue Horne 1

Assessor Sue Horne says those assessed values are for 2016, and grew over a billion dollars from the previous year–a rate of over six percent…

Listen to Sue Horne 2

Under Proposition 13, passed in the 1970s, property taxes are one percent of the assessed value, and property can’t be reassessed until it either changes ownership, or there is construction. Horne says that money collected represents essential services…

Listen to Sue Horne 3

The schools get about half of the property tax money. Counties, cities, fire and other special districts get the rest. Breaking down the numbers, Grass Valley’s secured values totaled one-and-a-half billion dollars, Nevada City assessable property values came in at 535 million, the Town of Truckee was at six-point-two billion, and unincorporated Nevada County totaled nine-point-eight billion dollars.

–gf

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