Real Estate
Napa County Property Values Surpass $55 Billion
Napa's latest assessment roll is the fourth-highest per capita of California's counties with a population of more than 10,000.
![Roughly 41% of the $2.4 billion increase comes from the required 2% inflationary adjustment required by Proposition 13.](https://patch.com/img/cdn20/shutterstock/23785744/20240709/082428/styles/patch_image/public/shutterstock-2359774783___09202347293.jpg)
NAPA, CA — Napa County's property values grew by $2.4 billion, according to their 2024-2025 fiscal year assessment roll released Tuesday.
As of Jan. 1, the assessed value of the county's land was $55.2 billion.
Napa County's assessment roll is the fourth-highest per capita of California's counties with a population of more than 10,000, John Tuteur, the assessor-recorder-county clerk, said in a statement.
Find out what's happening in Napa Valleywith free, real-time updates from Patch.
"The local roll is just behind San Mateo, Marin, and San Francisco and just ahead of Santa Clara," Tuteur said.
Approximately $1 billion of the $2.4 billion increase, or 41%, comes from the required 2% inflationary adjustment required by Proposition 13.
Find out what's happening in Napa Valleywith free, real-time updates from Patch.
Prop 13 was a California property tax limitation passed in 1978 to keep values at or near current market value levels. It rolled back most local real estate assessments to 1975 market value levels and limited the property tax rate to 1% plus the rate necessary to fund local voter-approved bonded indebtedness. It also limited future property tax increases to a maximum of 2% per year.
Under Prop 13, properties are reassessed to current market value only upon a change in ownership or completion of new construction, which is considered a restart, or base year value.
In Napa County, 947 properties had values lower than their Proposition 13 base values, the lowest number of properties that declined in value since the Great Recession of 2007, Tuteur said.
Those with questions about the value shown on notices should contact the assessor division for an informal review prior to Nov. 15 at (707) 253-4459 or [email protected].
Story by Ruth Dusseault, Bay City News.
Copyright © 2024 Bay City News, Inc. All rights reserved. Republication, rebroadcast or redistribution without the express written consent of Bay City News, Inc. is prohibited. Bay City News is a 24/7 news service covering the greater Bay Area.