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Continued Improvement in Home Values Results in Increased 2015 Assessment Roll | Business

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Continued Improvement in Home Values Results in Increased 2015 Assessment Roll
Continued Improvement in Home Values Results in Increased 2015 Assessment Roll

Yolo County Clerk/Recorder/Assessor Freddie Oakley has announced this year’s annual Assessment Roll increased from the 2014 total value of $21.8 billion to a current value of just over $23 billion. Improving economic factors have continued to strengthen the real estate market, attracting new residents and contributing to an overall rise in home values throughout Yolo County, resulting in a total 2015 Assessment Roll of $23,239,449,070; a 6.51% increase over the prior year. 

“Every member of my staff has been working tirelessly to efficiently handle the increased workload that accompanies the fair valuation of land, property and many other aspects of Yolo County and I could not be prouder of the end result,” said Yolo County Clerk/Recorder/Assessor Freddie Oakley.  “Preparing this year’s roll was a wonderful experience.”

Part of the increased workload came as a result of reviewing reductions in Proposition 8 values.  In 1978, California voters passed Proposition 8 which allows a temporary reduction in assessed value when real property suffers a decline in value.  As property values increase, homes are released from their Proposition 8 status and restored to the Proposition 13 base year value to more accurately reflect their higher value.   Proposition 13, also passed in 1978 limiting property taxes to no more than 1% of the property’s value with increases not to exceed 2% per year.

Every area of Yolo County experienced an increase in assessed value.  West Sacramento had the largest citywide increase at 7.31%.  Woodland, Davis and Winters have seen increases of 6.83%, 5.38% and 5.35% respectively.  The unincorporated areas of Yolo County grew by 7.09%.

“Though I am excited to provide this valuable function to the county, my main drive continues to be in serving the people of Yolo in the best way possible,” remarked Oakley.

Values will be available on the Assessor’s website (www.yolocounty.org/assessor) on July 2. To access property values, the Assessor’s Parcel Number or street address is required.  To access the Assessor’s Parcel Number, select the Property Tax Parcel Number link on www.yolocounty.org or call the Assessor’s Office at (530) 666-8135.

For information concerning the assessment appeals process, visit: www.yolocounty.org/assessment-appeals or call the Clerk of the Board’s Office at (530) 666-8195.

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