Solano County property valuation rises – The Vacaville Reporter

Glenn Zook, Solano County Assessor and Recorder (Reporter File/Solano County)

For the 13th time in as many years, there is good news for property owners in Solano County:

Solano County Assessor and Recorder Glenn Zook reported Wednesday that the local property tax assessment for the 2024-25 fiscal year increased by $3.6 billion last year, an increase of 5.12 percent.

“The total value of estimated rolls increased again this year, continuing a trend that began in 2012,” Zook said in a press release.

“The increasing number is due to ongoing business investment across the community, new housing construction and a robust real estate market, despite lower market activity and higher interest rates,” he added.

At the bottom of the list, the value of all taxable properties in Solano reached $73.8 billion. This “net list” is used by local authorities as a starting point to calculate the distribution of property taxes that benefit cities, schools, special districts and local programs, Zook said in the prepared statement.

Net worth consists of the “secured tax rate” and the “unsecured tax rate” and includes all taxable property as determined, valued and recorded by the County Assessor, less tax-free property.

The secured tax list generally consists of land and improvements, such as buildings, and the unsecured tax list consists primarily of business and personal property, such as machinery and business equipment.

Zook reported that there are a total of 154,505 parcels of land in Solano County, spread across the seven cities and unincorporated areas.

There are currently 4,353 properties with Proposition 8 status (3,267 residential properties and 1,086 non-residential properties), which amounts to a temporary reduction in the value of the properties below the established base value of Proposition 13, he said.

The steady increase in property values ​​in recent years has reduced the number of properties with Proposition 8 status, Zook said, adding: “For comparison, the total number of properties with Proposition 8 status peaked at 78,000 in 2012.”

He said that under Proposition 13, when ownership changes or new construction is completed, the property is reassessed and a base value is set for the year. After that, annual increases are capped at a maximum of 2 percent per year.

However, if the market value falls below the Proposition 13 value, the market value becomes the basis for property taxes and this is called a “temporary enrollment of Proposition 8 value,” Zook said.

Homeowners whose property value has been temporarily reduced under Proposition 8 or reverted to Proposition 13 status will receive a notice in the mail.

Property details can be found on the Solano County Assessor/Recorder website at www.solanocounty.com/depts/ar/home.asp.

Property owners with questions regarding their assessment may contact the Assessor-Recorder’s Office’s Assessment Division by phone at (707) 784-6210 or by email at [email protected].