| City | Tax value | Chg. |
|---|---|---|
| Santa Ana | $20.5 billion | -6.3% |
| Stanton | $2.1 billion | -5.8% |
| Tustin | $9.5 billion | -4.4% |
| RS Margarita | $6.6 billion | -4.1% |
| La Habra | $4.7 billion | -3.5% |
| Aliso Viejo | $7.6 billion | -3.0% |
| Laguna Niguel | $11.9 billion | -2.8% |
| Garden Grove | $12.3 billion | -2.7% |
| Lake Forest | $10.9 billion | -2.4% |
| Yorba Linda | $10.9 billion | -2.4% |
| Buena Park | $7.4 billion | -2.3% |
| Orange | $16.6 billion | -2.2% |
| Placentia | $5 billion | -2.0% |
| San J Capo | $5.8 billion | -2.0% |
| Mission Viejo | $13.1 billion | -1.9% |
| Laguna Hills | $5.6 billion | -1.8% |
| San Clemente | $12.6 billion | -1.8% |
| Dana Point | $8.8 billion | -1.4% |
| Cypress | $5.5 billion | -1.2% |
| Anaheim | $34.6 billion | -1.1% |
| Westminster | $6.7 billion | -1.1% |
| Laguna Woods | $2.3 billion | -0.9% |
| Brea | $7 billion | -0.8% |
| Fullerton | $14.6 billion | -0.8% |
| Seal Beach | $4.2 billion | -0.4% |
| Irvine | $47.2 billion | 0.2% |
| Villa Park | $1.4 billion | 0.3% |
| Costa Mesa | $14.4 billion | 0.4% |
| Los Alamitos | $1.6 billion | 0.6% |
| Huntington B | $28.2 billion | 0.7% |
| La Palma | $1.7 billion | 1.3% |
| Fountain Valley | $6.8 billion | 1.5% |
| Newport B’ch | $38.7 billion | 2.0% |
| Laguna Beach | $10.1 billion | 4.0% |
| Unincorporated | $22 billion | -3.3% |
| Total | $418.8 billion | -1.2% |
Orange County’s first drop in taxable property values in 14 years was by no means an across-the-board drop.
The Assessor’s recap of the new taxable values for homes and other properties — remember, that’s different that actual values — show that 25 of Orange County’s 34 cities saw their taxable values driven down by falling home prices, with an average decline of 2.4%. And 9 had increases, with an average gain of 1.2%.
Highlights include:
- Santa Ana has the biggest decrease in taxable property values: down 6.3%.
- Stanton has the second-highest decrease: down 5.8%.
- Value reductions for all properties in the county totaled more than $29 billion — $27.6 billion of that for homes.
- Laguna Beach has the biggest increase in taxable values: up 4%.
- Newport Beach has the second-bigest: up 2%. Fountain Valley occupied the No. 3 spot with a gain of 1.5%
- Irvine has the county’s largest property tax base: Homes and businesses there had a collective taxable value of $47.2 billion. That was up 0.2% from the 2008-09 tax year.
- Newport Beach is second, with a total taxable value of $38.7 billion. (The five cities with the largest taxable values are highlighted in red in the chart.)
- Santa Ana, the county’s most populous city, has the fifth highest tax base: $20.5 billion.
- Villa Park, the county’s smallest city, has the smallest tax base: $1.4 billion.
- Los Alamitos and La Palma follow closely with the second- and third-smallest tax bases: $1.6 billion and $1.7 billion respectively.
- Unincorporated areas saw taxable values fall 3.3% to $22 billion.
Related news …
- Beach-city homes get fewer property-tax cuts
- O.C. tax values see biggest drop in 34 years
- 179,000 O.C. homes won’t see taxes go up
- O.C. property tax values face 1st drop in 14 years
- Requests for property tax reviews up 160%
- Site identifies properties getting tax reviews
- Placentia called hotbed of inflated home assessments
- Assessor warns of dubious help to cut property taxes
- Property tax cut? You already had it!
Lansner on Real Estate’s most-popular June postings …
- ‘Real Housewives’ Coto home in default
- “Real Housewife’ saves Coto home from foreclosure
- St. Regis resort reportedly near foreclosure
- Developer of OC high-rise condos ponders bankruptcy
- Mall getting $100 million makeover
- Surf City rental service draws police complaints
- St. Regis owners, lenders face big losses
- Chain with 10 o.c. hotels in bankruptcy
- Distressed property cuts other Calif. prices
- 179,000 OC homes won’t see taxes go up
- Hear why Chapman sees no big OC housing revival
Humble Anaheim home draws 63 offers
Not really…the county increased my by 2% when actually the price drop to the levels of 2003, and already paid back then 2% increased.
In other words…I feel that the county cruxifying the currents to save the deliquents in town.
haha..no surprise here. Look at what Obama is doing; keeping people in homes that they couldn’t afford in the first place!
This is the new Amerca model; save the irresponsible and punish those who live within their means!
Come on Lee, break out your world famous list. We won’t laugh, promise.
Could it be all those from across the border have driven down the value of the homes !!! na na cant be that…or could it..wake up because of them.this has been going on..
I work with foreclosures and I all can say is look at the sur-name’s of all the foreclosures!! They sure aren’t German/Irish/Brittish and so forth.
MY TAXES WENT UP AND PROPERTY VALUE WENT DOWN I AM DAMN NEAR PAYING MORE TAXES THAN THE PROPERTY IS WORTH. GIVE THE WORKING MAN A BREAK.
my charge extra 2 % also. you are right jc.
Just as predicted a year ago. Just wait until the end of the year when those actual tax dollars start trickling back down the pike.
Note to all City Controllers: Now is a good time to start stocking up on coffee, cigs, and Jack Daniels, your going to need it come the end of the year.
Yorba Linda increased by 2%, at least my home did.
Keep buying those homes sheeple, the Calif Govt needs you and your money badly. They will even give you an extra 10K in tax cuts just to buy a home lolllll
Home Prices Post First Quarterly Gain Since 2006
http://www.housingwire.com/2009/07/09/home-prices-post-first-quarterly-gain-since-2006/
Just curious, did this happen during the Japanese deflationary spiral?
A 1.7% rise in median?
No, I don’t think that happened in Japan.
Did Japan’s government force record low mortgage rates, add fantastic tax credits, halt a massive foreclosure process to limit supply, and flood the people with 3 1/2% low down loans; all during the peak selling quarter? 3 years and some 30% drop from the peak? I’m sure if they had, they could have mustered enough suckers to see a blip in the median.
C’mon LL, absolutely NOTHING charted goes up or down in a straight line. Could shockg be posting using your id by chance? Is that you shockg? lolll
Of course it happened in Japan, but YoY prices declined for 15 straight years.
http://www.businessinsider.com/shiller-japans-housing-market-fell-for-15-years-2009-6
shockg hates my guts. I’ve been hammering on him for quite some time now.
well done :)
Just curious, did the Japanese banks have shadow inventory to manipulate home prices?
Don’t worry son, we have years to go in downward prices. Let’s see what happens to prices in the fall and winter, shall we?
I don’t know… did they? For all the self-styled deflation experts in here, nobody seems to know much about what happened in Japan.
More deflationary news…
Foreclosures Drop 11% in Q2
Foreclosed homes in California declined by 26% from last year.
http://www.housingwire.com/2009/07/08/foreclosures-drop-11-in-q2/
I know Bogey says this is due to 10k tax breaks, but rants said the government can’t stop this thing from happening. So who do I believe?
BFD, moratorium in play. Just kicking the can down the road.
What moratorium???? National foreclosures dropped 11% in one quarter.
http://mortgage.freedomblogging.com/2009/07/09/foreclosure-backlog-grows-in-oc/13319/
Late notices are way up, defaults are way up, and notice of sales are up… and yet the end result, foreclosures, are down. Hmmmm. Magic!
Your comparing OC to nationwide buddy.
So are you in the same camp as Jimmy who said high end OC is immune to this housing crisis?
No my belief is pretty much in line with the high end having further to fall. The low end is at rental parity so investors will continue to provide a backstop for sub-$500k.
I just want to know how my home value can drop 35%, while my property taxes are 7% higher this year? That’s on top of the 6% hike from last year! Thanks Mr. Chriss W. Streeet, Tax Collector…keep making those stock market bets - and losing!!
http://www.ocregister.com/articles/county-committee-street-2457262-investment-oversight
By the way, what’s with the two “s” in your first name?
You know I’m thinking about going back to school. After all, I could probably borrower $100,000 to fund some further eduction, and walk away without making any payments afterwards. What are they going to do, foreclose on my education? @@@LOLRIBSPLITTER@@@
hey LL- put this in your foreclosure pipe and smoke it
anyone who thinks this is the bottom of the market
is a complete fool–
http://www.cnbc.com/id/31831512
Raise your hand if you plan on buying commercial real estate. Anybody??
XTRA XTRA read all about it
http://mortgage.freedomblogging.com/2009/07/09/foreclosure-backlog-grows-in-oc/13319/#comment-31667
just a matter of time till these babies hit the market–
that will begin the next leg down in the deflationary death
spiral of home prices— and despite what the realtors
on this blog say— there aint a damn thing the
government can do about it—
LL isnt quite intelligent enough to see the connection between the commercial market implosion and the overall economic picture–
this would explain why he bought at the very apex of the
worlds greatest bubble– great move there einstein
rants isnt quite intelligent enough to see the connection between the reduction in foreclosures, the increase in home sales, the increase in home prices, and the overall economic picture–
this would explain why he sold two years before the apex of the
worlds greatest bubble– great move there einstein
“The Fed’s preferred price gauge, which excludes food and energy prices, rose 1.8 percent in May from a year earlier.”
http://www.bloomberg.com/apps/news?pid=20601087&sid=aXE_NxcOLRXc
Ouch…
rut roh– china– our biggest creditor– is calling the fed’s hand
in the ultimate game of liars poker— heads they win- tales we lose
http://www.cnbc.com/id/31838115
deflation score card
1) real estate prices crashing for over two years and counting
– check
2) stock market plunges from 14000 to 8100– check
3) falling WAGES (stagnant at best) AND spiraling unemployment
numbers– check
4) oil back below 70- from a 140 high last year– check
5) rent price reductions and rental wars with “free months”
incentive signs everywhere– check
6) grocery store price wars– check
7) nimrods who bought into the bubble hoping for
inflation to bale their dumb asses out– double check
8) HISTORIC levels of federal- state- local and personal DEBT—
TRIPLE CHECK– see attached debt to gdp graph and note the
graphs starting point during the great depression which was a
deflationary crash– quadruple check
http://www.chrismartenson.com/blog/crisis-explained-one-chart-debt-gdp/11570
9) the fed keeping interest rates at ZERO in a vain attempt
to stop the deflationary death spiral– triple check
hey liar- care to respond to each of those FACTS?
wellllllllllllllllll I’m waiting
liar– oh liar
thats what I thought-
debate rule number one — never try to debate someone whos smarter than you
It is really sad to see these renters having to pay more in property taxes unjustly while property values are dropping in mid -high range.
Maybe I should have listened to dealholeo and bought?