County Assessor reports solid growth for Arcadia in 2020 Assessment Roll. The Roll for 2020 has been closed and it reflects solid growth for Arcadia and the rest of the County. However, the Roll is pre-COVID. This comprehensive tally values more than 2.5 million real estate parcels in Los Angeles County and results in the very tax dollars that goes to pay for vital public services, such as healthcare, police, fire, schools, and even librarians, to name just a few. The County Assessor is constitutionally mandated to close the roll by the end of the Fiscal Year on June 30. The 2020 Assessment Roll has a total net value of $1.7 trillion, indicating the 10th year of consecutive growth. That value places $17 billion in the hands of the County to be used for those public services I just mentioned. This year the Roll has an added dynamic, the COVID-19 pandemic. Locally, Arcadia for 2020 came in at $18.3 billion for taxable values, which is a 4.4% increase over last year’s numbers. That includes 14,854 single-family homes, 809 apartment complexes, 995 commercial-industrial parcels for a grand total of 16,658 taxable properties. Growth is steady in Arcadia.
More importantly, that $18.3 billion translates into about $183 million for vital public services such as public safety, healthcare and public education that benefits Arcadia.
Governor Arnold Schwarzenegger has proposed taking 8% of the property tax that cities receive. That would mean a loss of $1,202,358 for Arcadia. A chart shows how much other local cities may lose.
Howard Jarvis, the father of Proposition 13, spent an hour in Arcadia, knocking down the "straw man" arguments he said were being put up against the property tax initiative. Prop. 13 would reduce property taxes in California to 1 percent of what market value was in 1975-1976, plus whatever is necessary to pay off current bonded indebtedness. A 2 percent annual inflation rate is written into the constitutional amendment.
In this ailing economy, San Gabriel Valley property values have dropped significantly, as reflected in the county's home assessments. The county property roll is at $1.1 trillion, a nearly 1% decrease compared to 2008. Homeowners will have smaller tax bills but cities are having to reduce services and employees as they lose businesses, sales tax revenue, and property tax revenue. See a chart of Los Angeles County Assessor's Office property values report showing Arcadia and neighboring cities. Arcadia is a city whose 2009 value increased 2.2% compared to last year.
Many San Gabriel Valley cities are seeing an increase in property tax revenues in the 2009-2010 fiscal year, namely San Marino, Arcadia, Bradbury, Alhambra and South Pasadena. Arcadia's property tax revenue is expected to be $3,359,282.80 compared to $3,294,314.77 in 2008-2009. Other cities' figures are given. In the average city, property taxes make up 11% of the city budget.
a. Property Ownership Maps. No. 1-16; with Index (Prior to October, 1972)
b. Property Ownership Maps. No. 16A-37B
c. Property Ownership Maps. No. 38-58
d. Board Roll of State Assessed Property. Prepared by the State Board of Equalization, State of California. City of Arcadia. 1954. Includes letter…
a. Property Ownership Maps. No. 1-16; with Index (Prior to October, 1972)
b. Property Ownership Maps. No. 16A-37B
c. Property Ownership Maps. No. 38-58
d. Board Roll of State Assessed Property. Prepared by the State Board of Equalization, State of California. City of Arcadia. 1954. Includes letter to Mr. Walter Cornish, Arcadia City Clerk from Broley E. Travis, Chief, Valuation Division, Sept 17, 1954.
e. Assessment Roll of Property. Assessed by the State Board of Equalization. State of California. City of Arcadia. 1947-1954.
f. Assessment Book of the Property of the City of Arcadia, Los Angeles County, for the years 1904-1908
All items in Box 84 came from the Arcadia City Hall vaults, given to the Arcadia Public Library in July, 2004.