West Hollywood, Beverly Hills has county’s fastest growing property values
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West Hollywood, Beverly Hills, Arcadia, Palmdale and Manhattan Beach were the Los Angeles County cities with the fastest-growing property values this year, according to a report from the L.A. county assessor.
The assessor’s 2015 annual report includes the assessed value of all taxable real property and business personal property in the county, along with detailed information on each of the 88 cities in the county.
Beverly Hills was one of the leaders in cities with the fastest-growing property values this year, according to a report from the L.A. county assessor.
Beverly Hills was one of the leaders in cities with the fastest-growing property values… more
Rick Johnston / The Business Journals
The total assessed value of all property throughout the county rose 6.13 percent to $1.26 trillion, the largest in county history and the fifth consecutive year of growth, according to Assessor Jeffrey Prang.
The $73.1 billion increase in property values resulted in about $730 million in additional property tax dollars.
The city of Los Angeles remained the highest valued city in the county at $500.36 billion, a 7.2 percent increase from last year. The city of Los Angeles includes 609,974 single-family residential parcels, 121,169 condo parcels, 110,023 apartment building parcels, and 64,646 commercial-industrial parcels, for a total of 784,643 parcels.
Rounding out the top five highest-valued cities were: Long Beach ($50.1 billion, 2.5 percent increase), Santa Monica ($31 billion, 7.3 percent increase), Beverly Hills ($27.8 billion, 9.1 percent increase), and Santa Clarita ($27.3 billion, 4.7 percent increase).
The fastest-growing cities in the county were West Hollywood at 9.8 percent growth, Beverly Hills at 9.1 percent, Arcadia at 8.8 percent, Palmdale at 8.3 percent, and Manhattan Beach at 8.1 percent.
Cities that saw the least amount of growth were Santa Fe Springs, Irwindale, Paramount and Montebello.
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