News

Land value growth sets record in Alameda County

Dublin scores biggest gains in assessed property values among Tri-Valley cities; Pleasanton and Livermore also up year-over-year

Land in Alameda County reached a gross value record this fiscal year of $321.5 billion, according to an annual local assessment roll of 518,600 taxable properties released last week by the Alameda County Assessor's Office.

First-year Assessor Phong La credited increased real estate values and a recovering economy for the 7.13% increase in the 2019-20 fiscal year compared to the previous year, which translates to an additional $21.4 billion in assessed land value.

"The revenue generated by the assessment roll continues to support schools, public safety, parks, roads and other essential services," La said in a statement.

Several more factors contributed to this year's value growth including applying the 2% mandatory inflation index to properties with assessed values that were unaffected in previous years by assessment declines. That added about $5.6 billion, while construction activity and real estate sales and transfers gave $2.5 and $11.3 billion, respectively.

Businesses have also "flourished" and are considered by the county to be "a key factor in the growth in the assessment roll, as these company's business personal property assessments have increased by $1.1 billion," La said. The county's assessment role has increased 35%, or $73 billion as well in the past five years.

Oakland remains the highest-valued jurisdiction in Alameda County at $68.8 billion, but one community in the Tri-Valley stood out this year. The city of Dublin saw the largest increase in assessed value from the previous year at 10.3%, to just over $18 billion overall, according to county officials.

Pleasanton saw a 6.4% increase in assessed value, from $24.1 billion last year to its current assessment of just under $25.7 billion across 28,067 parcels, according to county officials. In Livermore, the assessment roll stands at just under $20.6 billion, an increase of 5.8% year-over-year.

With a 2.7% unemployment rate lower than the state and national averages, the county's outlook is good but "there are indicators that this tremendous growth in the economy may be coming to an end," La said. He did not provide any details but advocated "preparing for a potential recession now rather than having it come as a surprise."

All secured roll property owners in Alameda County will receive notification by mail. Property owners with questions regarding their property assessment are asked to call the Assessor's Office at 510-272-3787 (real estate assessments) or 510-272-3836 (business personal property assessments) or visit online at www.acassessor.org.

Formal appeals of the 2019-20 assessed values must be made by Sept. 16 with the Clerk, Board of Supervisors, Assessment Appeals Unit, on their assessment appeal application. The application and instruction booklet can be viewed and printed at www.acgov.org/clerk/assessment.htm.

Property tax bills for fiscal year 2019-20 will be mailed in October by the Alameda County tax collector and will be based upon the assessor's 2019-20 assessed values.

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Comments

1 person likes this
Posted by Ruben Gouveia
a resident of Val Vista
on Jul 17, 2019 at 10:45 am

This is great news. Lets see if they can build more schools. Our elementary schools are crowded and it's long overdue and not to long before our quality of education goes south.


6 people like this
Posted by Brad
a resident of Birdland
on Jul 17, 2019 at 10:52 am

Brad is a registered user.

Great news. Great economy. Revenue increasing - BUT the tax & spenders always want higher taxes without efficiency.


2 people like this
Posted by Pleasanton Parent
a resident of Pleasanton Meadows
on Jul 17, 2019 at 11:08 am

Really like to see how this money is being allocated. Another forum post around our current schools not even getting their lawns mowed is an embarrassment when you know something like this is happening at the same time. Schools asking for additional bond money and not even taking care of what they have today on the most basic level. Time to explain.

Based on tax revenue alone our schools should be flush with resources for our kids. And with the added $1k/family "donation" at registration they should have even more "nice to haves".

Where is the money going?


4 people like this
Posted by Spudly
a resident of Laguna Oaks
on Jul 17, 2019 at 3:01 pm

This is obvious but will say it anyway. The county will take in more money and possibly attempt to raise taxes and fees without cutting long term liabilities. This will result in OPEX going to pay for past debts and ultimately will cause a total breakdown when the increasing property value trend reverses.


7 people like this
Posted by James Michael
a resident of Val Vista
on Jul 17, 2019 at 3:01 pm

James Michael is a registered user.

"Where is the money going?"

Magical pension plans!


4 people like this
Posted by Pleasanton Parent
a resident of Pleasanton Meadows
on Jul 17, 2019 at 7:52 pm

....and we keep voting these morons in


Sorry, but further commenting on this topic has been closed.

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