The increase is fueled in large part by a 25 percent average increase in the assessed valuations
of commercial properties, and a nearly 28 percent average increase in industrial properties.
Protesting assessed valuations
that are too high is one way owners can keep some control over rising costs.
Due to its proximity to the employment centers in Sacramento and the San Francisco Bay area, and fueled by its relative affordability of housing and lower cost of living, the district's tax base is experiencing strong growth, with assessed valuations
averaging an annual growth rate of 11.
Gural explained there is going to be a continued "huge" budget deficit as a result of the decline in both assessed valuations
and revenue from Class IV.
Moreover, the top two taxpayers are oil refineries (Shell and Tesoro Corporation), the assessed valuations
of which are highly vulnerable to economic fluctuation.
have demonstrated healthy overall growth.
This expected development should further enhance assessed valuations
and increase tax base diversification.
Nevertheless, assessed valuations
have risen at an annual average rate of 4.
Financial operations have benefited from the modest rate increases as well as solid growth in taxable assessed valuations
(AV), which were conservatively projected to decline, increased a moderate 3.
The rate reduction is due to higher assessed valuations
of real estate throughout Metropolitan's six-county service area and reduced debt-service cost covered by the tax levy.
The district has experienced steadily increasing assessed valuations
(AV), with an average annual growth of 4.