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By Hannah Miet Thursday, August 28, 2014
The value of the taxable property in city of Los Angeles rose by 6 percent over last year’s figure, according to the 2014 Annual Report released on Wednesday by the Los Angeles County Office of the Assessor. The assessed values are the foundation of the property tax system and are used to divvy up tax revenue.
The aggregate value of property in the city was $467 billion, nearly half the county total of $1 trillion. The increases made the 2014 assessment roll the largest in County history. They reflect the fourth consecutive year of growth and a $62 billion increase from the prior year.
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