The assessed valuation of Stanislaus County properties increased by 6.59 percent, to $65.7 billion, over the 2022-23 roll, announced county Assessor Don H. Gaekle.
The increases seen in the 2023-24 Stanislaus County Regular Assessment Roll, resulted from properties being reassessed to changes in ownership, new construction, the annual review of decline in value properties and the mandated Consumer Price Index increases on Proposition 13 base values. The inflation adjustment is the maximum two percent.
The percentage roll growth for 2023-24 was broad based with all cities and the unincorporated county exceeding 6 percent roll growth. Ceres experienced a 6 percent increase, the lowest of all nine cities in the county. Hughson, by contrast saw the highest at 13.4 percent.
The 2022 calendar year saw reduced sales activity and significantly longer days on the market for residential properties in Stanislaus County as in the rest of California and the U.S. generally. However, the average sale price and price per square foot have remained strong while actual sale volume has declined significantly. Business personal property assessments on both the secured and unsecured rolls increased significantly by 14.47 percent for 2023-24.
The county assessor is required to annually establish assessed values for all taxable real property, mobile homes, boats, airplanes and business personal property within the county. This includes review of properties where the market value may be lower than the property’s Proposition 13 factored base value. The current roll reflects activity occurring during calendar year 2022 and the resulting assessed valuations are effective as of the Jan. 1, 2023, lien date.
“Where needed, we will review and adjust property assessments to ensure that assessed values are at the lower of a property’s Prop 13 factored base value, or its current market value, for the Jan. 1, 2023, lien date,” said Gaekle.
Proposition 13 required that assessors establish a “Factored Base Year Value” for all real property that existed as of the 1975 lien date. It also requires the reassessment, at market value, of any portion of a property that changes ownership or is newly constructed after the 1975 lien date.
Proposition 8, also passed in 1978, requires that the assessor enroll the lower of a property’s current market value, or its Proposition 13 Factored Base Value, on any given Jan. 1 lien date.
The 2023-24 roll contains over 180,000 assessment units of real and personal property, upon which property taxes are levied. The assessment roll will produce approximately $650 million in revenue to be shared by public schools, the county, cities and special districts.
The assessment roll by unincorporated county and the nine cities are listed before with assessed value and percentage of increase:
• Unincorporated county, $20.2 billion and a 6.41 percent increase;
• Ceres, $3.98 billion with a 6 percent increase;
• Hughson, $762.01 million with a 13.40 percent increase;
• Modesto, $21.8 billion with a 6.14 percent increase;
• Newman $936.47 million with a 6.23 percent increase;
• Oakdale $3.04 million with a 6.38 percent increase;
• Patterson $2.98 million with a 10.50 percent increase;
• Riverbank $2.38 billion 7.32 percent increase;
• Turlock $8.89 billion with a 6.27 percent increase;
• Waterford $658.6 million, with 9.22 percent increase;
Total assessment of $65.68 billion with a 6.59 percent increase.
Since the assessor does not mail annual value notices to save $25,000 annually, taxpayers are only able to see their 2023-24 assessed property value(s) online, by visiting the Assessor Value Notice Inquiry under the “Services” tab of the main webpage: http://www.stancounty.com/assessor/
Taxpayers who have questions about their assessed value are encouraged to contact the Assessor’s Office at (209) 525-6461 or in person at 1010 10th Street, 2nd Floor, Suite 2400, Modesto, between the hours of 8 a.m. and 4:30 p.m., Monday through Friday.
Annual assessments may be appealed between July 2 and Nov. 30, 2023. Applications for appeals are available from the Clerk of the Assessment Appeals Board at 1010 10th Street, 6th Floor, Suite 6700, Modesto CA 95354 or at https://www.stancounty.com/board/aab/ Their telephone number is (209) 525-6414.
