South Gate and L.A. County Homes Show Small Increase in Property Values

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Property values are going up in Los Angeles County, according to the Assessor's Office, which recently announced a 2.24 percent jump in the total assessed value of properties on the tax roll.

In South Gate values of homes also increased. In 2011 local homes had an assessed valuation of $4,559,036,995 while in 2012 they assessed at $4,631,146,306.  This was 1.6 percent increase from one year to the other.

The total assessment of properties in the county is more than $1.13 trillion, a $24.8 billion jump over last year, according to the Assessor's Office.

When tax-exempt assessments and state-funded homeowners' exemptions are factored in, the county's net assessment roll is $1.079 trillion, up 2.2 percent from last year.

Not surprisingly, the city of Los Angeles has the highest assessed value in the county at $419.1 billion -- up 2.5 percent from last year.

Long Beach placed second at $44.1 billion.

Beverly Hills had the highest year-to-year jump in valuation, up 6.5 percent. Other cities with sizable jumps in assessed value were Rolling Hills at 6 percent, Bradbury at 5 percent and San Marino at 4.9 percent.

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