News release  Despite one of the most challenging years in recent memory, marked by the ongoing response to the devastating wildfires that swept through the Pacific Palisades and Altadena communities and a cooling real estate market, Los Angeles County Assessor Jeff Prang announced that the 2026 Assessment Roll reached a record $2.272 trillion in total net taxable value.  The 2026 Assessment Roll increased by $96 billion, or 4.42%, over the previous year, extending Los Angeles County’s streak of annual growth to 16 consecutive years.  The increase will generate more than $27 billion in property tax revenue to support vital public services, including public education, public safety, healthcare, libraries, parks, and other local government services throughout Los Angeles County, said a news release from Prang’s office.  “When I presented the forecast to the Board of Supervisors in May, I emphasized 2025-2026 was a challenging year, and the impact of January’s devastating wildfires will be felt for years to come,” Prang said in the release. “Even so, Los Angeles County’s economy continues to demonstrate remarkable resilience. Not only did we maintain value growth, we exceeded our May forecast of 3.9%, finishing the year at 4.42%.”  Despite diverting significant staff resources to assist thousands of property owners affected by last year’s wildfires, the Assessor’s Office continued implementing innovative assessment strategies supported by recent major technology upgrades. As an example, the office continued to improve efficiency in enrolling new construction assessments. As a result, new construction added more than $12 billion to the 2026 assessment roll, the release said.  The 2026 Assessment Roll also marks the second consecutive year the entire roll has been completed using the office’s new digital, cloud-based assessment technology platform, demonstrating the resiliency and efficiency of its technology transformation.  The Assessment Roll reflects the assessed value of all taxable property in Los Angeles County as of Jan. 1, 2026, as required by the California Constitution. Beyond determining property taxes, the roll serves as an important economic benchmark that local governments rely upon when preparing annual budgets and planning essential public services.  Although the housing market showed signs of moderation during the year, property values remained strong. The median home sales price climbed to $982,000, while property transfers accounted for the largest share of this year’s growth, adding $49 billion in assessed value.  The annual inflation adjustment required under Proposition 13 also contributed significantly to this year’s Roll. Because the California Consumer Price Index exceeded the constitutional limit, the maximum allowable 2% inflation factor was applied, adding approximately $43 billion in assessed value.  While the Assessment Roll increased by 4.42% overall, most property owners will not see a corresponding increase in their property tax bills. Under Proposition 13, most assessed values are limited to a maximum annual inflation adjustment of 2%.  The 2026 Assessment Roll includes 2,399,978 taxable real property parcels, 157,195 business property assessments, 31,938 boats, and 3,566 aircraft.  To access the 2026 Assessment Roll, go to: assessor.lacounty.gov/news-information/assessmentroll.  The post LA County property values surpass $2.2T appeared first on Santa Clarita Valley Signal. ...read more read less