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Property Values Increase in Palos Verdes

Rolling Hills saw one of the highest year-to-year jumps in property values, according to the Los Angeles County Assessor's Office.

Property values are going up in Los Angeles County, according to the Assessor's Office, which announced Monday a 2.24 percent jump in the total assessed value of properties on the tax roll.

Rolling Hills saw one of the highest year-to-year jumps in valuation at 6 percent. Palos Verdes Estates saw a 2.6 percent increase; Rancho Palos Verdes a 2.5 percent increase; and Rolling Hills Estates a 3.5 percent increase.

The city with the highest year-to-year increase in the county was Beverly Hills, which had a 6.5 percent jump.

The total assessment of properties in the county is more than $1.13 trillion, a $24.8 billion jump over last year, according to the Assessor's Office. When tax-exempt assessments and state-funded homeowners' exemptions are factored in, the county's net assessment roll is $1.079 trillion, up 2.2 percent from last year.

Not surprisingly, the city of Los Angeles has the highest assessed value in the county at $419.1 billion—up 2.5 percent from last year. Long Beach placed second at $44.1 billion.

Rancho Palos Verdes was the only city on the Peninsula that ranked in the top 20 highest valued cities. It ranked at No. 15 with a total assessment of $9.78 billion—a 2.5 percent change over last year.

—Editor Nicole Mooradian contributed to this report.

Noel Park September 11, 2012 at 03:01 PM
Nothing like a bit of good news to start the day out right, LOL. Thanks.

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