California Property Tax Rolls Shrink 1.8% in ‘Historic’ Slump
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California property values fell 1.8 percent for the current fiscal year, only the second drop since the most-populous U.S. state began collecting the data in 1933.
Declines in 48 of the state’s 58 counties brought the total value to $4.37 trillion, according to the California Board of Equalization, which monitors tax collections. The previous drop was a year earlier, when the total sank 2.4 percent to $4.45 trillion, the California Assessors’ Association said.