California Counties See Tax Shrinkage: Property Values Dip for Second Year

The Bond Buyer reports:

Assessed property values in California are likely to decline for the second year running, according to a Bond Buyer review of data from the state’s larger counties.

Even though the state’s tax assessment system has the effect of muting the volatility of property assessments, 11 of the state’s 12 largest counties experienced a decline in their property tax roll this year.

Can California afford higher and higher pension costs? We think not.