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County assessment roll increases for eighth year in a row
July 6, 2020
SOLANO COUNTY – Solano County Assessor-Recorder Marc Tonnesen announced today that the local assessment roll for properties throughout the County for fiscal year 2020/21 increased by $2.9 billion in assessed value over last year, or approximately 4.94 percent.
“This is the eighth year in a row that the total assessed roll value increased countywide,” said Marc Tonnesen, Solano County Assessor-Recorder. “The real estate market showed steady growth over the past year, while new construction continues to add value to the property tax roll.”
At the close of the roll, the value of all assessable property in Solano County was nearly $60.9 billion ($60,888,053,079). This “net roll” is used by local agencies as a starting point to calculate the distribution of property taxes for the benefit of the cities, schools, special districts and local programs.
“Closing the roll this year involved some unique challenges brought on by the COVID-19 pandemic, but I am proud to announce the timely completion of this roll,” Tonnesen said. “As far as values are concerned, since the values in this roll are derived based on the January 1, 2020 assessment date, the overall impact COVID-19 has had on local property values will not be reflected until we begin work on the fiscal year 2021/22 assessment roll.”
The County of Solano’s Net Roll consists of all assessable property discovered, valued and enrolled by the County Assessor, less those properties that are exempt from taxation. It is separated into the “secured assessment roll” – generally land and improvements (such as structures) – and the “unsecured assessment roll” – primarily business/personal property (such as machinery and office equipment).
As real estate market values continue to rise, the number of properties on Proposition 8 status – which is a temporary reduction in a property value below the established Proposition 13 base year value – has decreased. There are currently 8,507 parcels on Proposition 8 status, a decrease of 367 from the previous fiscal year. The total number of parcels on Proposition 8 status peaked 2012 at 78,000 parcels. There are 149,588 parcels county-wide, spread between the seven cities and unincorporated County.
Under Proposition 13, when a change in ownership occurs or new construction is completed, property is reassessed and a base year value is established. Annual increases thereafter are limited to a 2 percent maximum per year. However, when market value falls below the Proposition 13 value, the market value becomes the basis for property taxes. This is known as the temporary enrollment of the Proposition 8 value. Homeowners whose property values were temporarily reduced under Proposition 8 or restored to Proposition 13 status will receive a notice in the mail.
Proposition 8 notices are available online for property owners to view and print at http://www.solanocounty.com/depts/ar/viewpropertyinfo.asp.
Property owners with questions about their assessment can contact the Assessor division of the Assessor-Recorder’s office at (707) 784-6210 and by e-mail at Assessor@SolanoCounty.com. Taxpayers may also obtain information from the Solano County website www.SolanoCounty.com/Depts/AR