After a five-year hiatus, Arcadia City Council is considering reinstating a policy that would let property owners pay to be assigned a more auspicious house number, which some believe would improve the value of their home. The number 4 in a street address is considered a bad omen in many Asian cultures. In Mandarin language, the word "four" sounds like the word for death, while the number eight is considered lucky, because it sounds like the word for prosper. Arcadia's Asian population is approaching 60% and most potential buyers will be Asian. In a 3-2 vote, Arcadia City Council endorsed the move in principle and directed staff to report back on the costs involved.
Arcadia City Council decided that Arcadia residents will not be allowed to change their house addresses, despite concerns some have about the fear of the number four. See same story on November 3, 2011, pages S1 and S2 of San Gabriel Valley edition of the San Marino Tribune.
Arcadia City Council has agreed to reconsider the controversial policy of not allowing homeowners to change their addresses, after several homeowners complained they can't sell their homes at fair market value, due to a popular Chinese belief that the number four is unlucky. Arcadia Mayor Gary Kovacic said, "...I think we have to look at the true economic impact of this." Councilman Roger Chandler said, "I don't think we should operate public policy on superstition."
Arcadia City Council today will once more reconsider whether to allow customer-requested address changes in light of concerns about a Chinese superstition involving the number four. Since the number four sounds like the word for death in Mandarin and is considered unlucky, some realtors and residents have argued that addresses that end in the number four are more difficult to sell and affect home prices. The cost of processing an address change would be about $2600.
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.
Los Angeles County total property values are on the rise again. The county as a whole saw its first increase in two years, at 1.49%, according to the 2010-201the Los Angeles County Assessor's Office annual property roll report. Walnut, Temple City and San Marino saw some of the San Gabriel Valley's greatest growth in property values last year. Arcadia's property values went up 2.8%.
Parents protest a school boundary change for Baldwin Stocker Elementary that was approved two years ago. Residents are surprised by this change and say it hurts their home values.
Property values continue to grow in Los Angeles County. The record breaking uptick is the region's 12th consecutive yearly increase. Los Angeles County's total assessed property value for 2022 grew by a record $122 billion, boosting it to $1.89 trillion. Arcadia and Cerritos saw the smallest annual increase, with total assessed property values in both cities rising 4%.