The 2024 Assessment Roll – LCF and Glendale

It’s that time of year again when my office undertakes its most important function of the fiscal year that lays the ground work for the property taxes that pay for our vital public services: The Assessment Roll. In fact, it’s a Constitutional mandate.

The Roll for 2024 was closed as of June 30 and it reflects growth for La Cañada Flintridge and Glendale as well as the rest of the County.

First off, let me say this comprehensive tally values more than 2.5 million real estate parcels in Los Angeles County and results in the tax dollars that goes to pay for vital public services such as healthcare, police, fire, schools and even librarians, to name just a few. As I mentioned, I am constitutionally mandated to close the Roll by the end of the fiscal year on June 30. As a point of reference, my fiscal year runs from July 1 to June 30.

I am pleased to announce that the 2024 assessment roll has a total net value of $2.10 trillion, indicating the 14th year of consecutive growth. The 2024 Roll also grew by $96.70 billion (or 4.8%) over 2023. That value places about $20 billion to be used for those public services I just mentioned.

Locally, La Cañada Flintridge for 2024 came in at $10.77 billion for taxable values, which is a 4.8% increase over last year’s numbers. That includes 7,163 single-family homes, 74 apartment complexes, 295 commercial-industrial parcels for a grand total of 7,532 taxable properties. Yes, it’s a solid growth at $10.77 billion.

Glendale in 2024 came in at $42.12 billion for taxable values, which is a 4.7% increase over last year’s numbers. That includes 34,364 single-family homes, 5,854 apartment complexes, 3,345 commercial-industrial parcels for a grand total of 43,563 taxable properties reflecting a solid growth at $42.12 billion.

Some basics: The Roll, as it is known, contains the assessed value of all real estate and business personal property in the County’s 88 cities along with the unincorporated areas. It also breaks down the number of single-family residential homes, apartments and commercial-industrial parcels.

This year’s Roll comprises 2.39 million real estate parcels as well as business assessments countywide. That includes 1.89 million single-family homes, 250 thousand apartment complexes, 248 thousand commercial and industrial properties and more than 163 thousand business property assessments.

Since the Roll is the inventory for all taxable property in the County, it can provide some insight into the health of the real estate market. The Roll is also driven in large measure by real property sales, which added $53 billion to the Roll as compared with 2023; the CPI adjustment mandated by Prop. 13 added an additional $39 billion; and new construction added $9 billion.

Finally, to say this has been a challenging couple of years is an understatement and the fact that property values continue to grow is certainly good news and a testament to the viability of the region. A full list of assessment growth amounts and parcel counts for cities and unincorporated areas is available at https://tinyurl.com/2xde9mm8.