San Bernardino County Property Values Increasing

San Bernardino County Map

(Best Syndication News) San Bernardino County property values are increasing, according to the county assessor’s office. The Assessor-Recorder Clerk, Dennis Draeger, signed the annual property assessment roll on Friday.

Draeger says the sum of property values hit $162,678,642,449 in 2012. That is up 0.8 percent from 2011. This is good news for homeowners who have seen their values plummet over the last few years – at least until they get their new property tax bill.

County revenue will be increasing, mostly because of the increase in the Proposition 13 inflationary factor, according to Draeger.

This factor is set by the State Board of Equalization and allows for a two percent increase. Over the last two years, the inflation factor (CPI) has been less than two percent.

Draeger says the new report shows a “stabilization” in the real estate market. They inventory all taxable property within the county with the exception of some state-owned assets.

Rialto saw an increase of 2.7 percent in their assessed value. Redlands gained 2.4 percent while Upland, Chino Hills, and Adelanto gained less than two percent.

Homeowners in Needles, Barstow, Hesperia, and Yucca Valley saw their values decrease this year. Of the 818,000 parcels the county reviewed, 185,000 of them declined in value.

There is some good news. Draeger says that although some homeowners saw their values decrease, the rate of decrease is slowing.

By: Dan Wilson

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