S A N TA M O N I C A
REFLECTING THE CONCERNS OF THE COMMUNITY
smmirror.com
August 25 - August 31, 2023 Volume CCVIII Issue 209
INSIDE The High School/ Community College “Dual Enrollment” Opportunity
PAGE 9
Latest Santa Monica Assessment Roll Shows 5.3% Increase in Taxable Property Values Read the Full Assessment Roll Statement From L.A. County Assessor Jeff Prang The following is the 2023 Assessment Roll of Santa Monica, from Los Angeles County AssessorJeff Prang: 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 very property taxes that pay for our vital public services: The Assessment Roll. In fact, it’s a Constitutional mandate. The Roll for 2023 has been closed as of June 30 and it reflects growth for Santa Monica 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 very 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 2023 Assessment Roll has a total net value of $1.997 trillion, indicating the 13 th year of consecutive growth. The 2023 Roll also grew by $111 billion (or 5.91%) over 2022. That value places nearly $20 billion to be used for those public services I just Mentioned. Locally, Santa Monica for 2023 came in at $48.95 billion for taxable values, which is a 5.3% increase over last year’s numbers. That includes 16,821 single-family homes, 4,068 apartment complexes, 2,672 commercial-industrial parcels for a grand total of 23,561 taxable properties. Yes, it’s a solid growth at $48.95 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 singlefamily residential homes, apartments and commercial-industrial parcels. This year’s Roll comprises 2.58 million real estate parcels as well as business assessments countywide. That includes 1,892,564 singlefamily homes, 250,511 apartment complexes, 248,123 commercial and industrial properties and more than 200,000 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 $67.4 billion to the Roll as compared with 2022; the CPI adjustment mandated by Prop. 13 added an additional $36.7 billion; and new construction added $5.6 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 testament to the viability of
the region. A full list of assessment growth amounts and parcel counts for cities and unincorporated areas is available here.
Santa Monica Museum Exhibit Features Art by Katy Perry and Khloé Kardashian Showcases Are Crafted Five-Foot-Tall Elephant Sculptures In commemoration of World Elephant Day on Aug. 12, Downtown Santa Monica Inc.
and the Santa Monica Art Museum partnered with the global exhibition Elephant Parade to present the “Elephant Parade” Exhibit. The exhibit showcases a curated collection of crafted five-foot-tall elephant sculptures, conceived by eminent entertainment luminaries such as Katy Perry, Tiésto, Lily Tomlin, Khloé Kardashian, Cesar Millan, and
Oliver Benjamin. The Elephant Parade exhibit is taking place on Thursdays and Fridays: 2 p.m. - 8 p.m. Saturdays: 11 a.m. - 8 p.m. Sundays: 10 a.m. - 6 p.m. The museum is located at 1219 3rd Street Promenade. Originating from Amsterdam and Thailand, Elephant Parade stands as a socially-conscious
enterprise, having orchestrated exhibitions spanning across more than 20 nations. Their commendable efforts have not only raised awareness but have generated over $1 million in support of the well-being of elephants. For more information, go to https:// www.elephantparade.com/parades/santamonica-2023.
BACK OR UNFILES
TAXES?
ALL FORMS • ALL TYPES • ALL STATES SAMUEL B. MOSES, CPA
(310) 395-9922
100 Wilshire Blvd., Suite 1753 • Santa Monica 90401