Real Estate News

Property values climb in Sacramento region, statewide

A bi-level home on Armour Court, offered by Lyon Real Estate for $749,000, is pictured in June.
A bi-level home on Armour Court, offered by Lyon Real Estate for $749,000, is pictured in June. Sacramento

Assessed property values in the seven-county Sacramento region rose nearly 6 percent in the past year, according to statistics released this week by the California Board of Equalization.

BOE said values in Sacramento, Placer, El Dorado, Yolo, Amador, Sutter and Yuba counties totaled a combined $272.8 billion for 2015-16, compared with $257.7 billion in 2014-15.

Assessed values in Sacramento County in the most recent year accounted for $136.2 billion, up 4.6 percent from 2014-15. Placer County saw the region’s biggest year-over-year percentage increase: 2015-16 values totaled $65.2 billion, up 8.8 percent.

Statewide, 56 counties posted year-over-year increases in assessed value; most of those gains were more than 2 percent. Thirty-three counties grew more than 5 percent. Only two counties, Kern and Mono, experienced a year-over-year decline.

BOE said state- and county-assessed property values for all of California climbed for a fifth straight year with the 2015-16 results: $5.209 trillion, an increase of $289.9 billion, or 5.9 percent, from 2014-15. Values statewide are now 14.4 percent higher than they were in the recessionary period of 2008-09.

BOE Vice Chairman George Runner called the results “an encouraging sign for our economy.”

Mark Glover: 916-321-1184, @markhglover

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