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Citywide Net Taxable Value
<br />$27,899,686,424
<br />$29,227,069,745
<br />$30,273,353,908
<br />$31,296,169,499
<br />$32,438,787,361
<br />Real Property Value (Incl. Prop 8 parcels)
<br />$26,858,194,263
<br />$28,170,427,334
<br />$29,216,711,497
<br />$30,239,527,088
<br />$31,382,144,950
<br />CPI of Non Prop 8 Parcels (Max 2.0%)
<br />$518,696,383
<br />$532,465,802
<br />$555,556,644
<br />$564,720,885
<br />$588,698,074
<br />Transfer of Ownership Assessed Value Change
<br />$752,224,837
<br />$502,398,680
<br />$453,983,004
<br />$546,968,589
<br />$650,510,218
<br />Est. SFR Prop 8 Adj Based on Recent SFR Price
<br />$41,311,850
<br />$11,419,682
<br />$13,275,942
<br />$30,928,389
<br />$50,186,353
<br />Estimated Real Property Value
<br />$28,170,427,334
<br />$29,216,711,497
<br />$30,239,527,088
<br />$31,382,144,950
<br />$32,671,539,594
<br />Secured Personal Property Value (0.0%growth)
<br />$106,946,142
<br />$106,946,142
<br />$106,946,142
<br />$106,946,142
<br />$106,946,142
<br />Unsecured Personal Property Value (0.0%growth)
<br />$946,339,130
<br />$946,339,130
<br />$946,339,130
<br />$946,339,130
<br />$946,339,130
<br />Nonunitary Utility Value
<br />$3,357,139
<br />$3,357,139
<br />$3,357,139
<br />$3,357,139
<br />$3,357,139
<br />Enter Completed New Construction
<br />Estimated Net Taxable Value
<br />$29,227,069,745
<br />$30,273,353,908
<br />$31,296,169,499
<br />$32,438,787,361
<br />$33,728,182,005
<br />Estimated Total Percent Change
<br />4.76%
<br />3.58%
<br />3.38%
<br />3.65%
<br />3.97%
<br />Base Value of VLFAA
<br />$34,663,784
<br />$36,313,780
<br />$37,613,813
<br />$38,885,160
<br />$40,304,469
<br />Estimated Change to VLFAA
<br />$1,649,996
<br />$1,300,033
<br />$1,271,347
<br />$1,419,308
<br />$1,600,087
<br />VLFAA Estimate
<br />$36,313,780
<br />$37,613,813
<br />$38,885,160
<br />$40,304,469
<br />$41,904,556
<br />NOTES:
<br />* The revenue projection assumes 100% payment of taxes. Delinquency is not considered in the projection; however, rates of between 1% and 2.5% are typical.
<br />• Transfer of Ownership Assessed Value Change: For years 2021-22 and later a growth rate is applied that is representative of the historical and predicted average rate of real property growth due to properties
<br />that have transferred ownership. Real property is grown by the following percentages: 2021-22 @ 1.8%; 2022-23 @ 1.6%; 2023-24 @ 1.8%; 2024-25 @ 2.1 %;
<br />• Estimated Assessor Prop 8 Adjustments: Prop 8 reductions in value are TEMPORARY reductions applied by the assessor that recognize the fact that the current market value of a property has fallen below its
<br />trended (Prop 13) assessed value. For 2020-21 and later, properties with prior Prop 8 reductions are not included in the CPI increase, they are projected flat until either the Assessor begins to recapture value as
<br />the economy improves and median sale prices begin to increase, they are further reduced, or they sell and are reset per Prop 13.
<br />• Where they exist, Prop 8 restoration adjustments are based on projected median SFR home price growth. For this projection the following median year to year percentage changes are used for Santa Ana:
<br />2021-22 @ 0.8%; 2022-23 @ 1.0%; 2023-24 @ 2.5%; 2024-25 @ 4.0%;
<br />• Base Year Values Entry: With the dissolution of redevelopment, base year values are unlikely to change and are budgeted flat.
<br />• Secured personal property and unsecured values are projected at 100% of 2019-20 levels. 2019-20 values include unsecured escaped assessments that have a general fund total value of $38,387,379 and a
<br />jurisdiction wide value of $67,353,189. The value of escaped assessments is generally inconsistent and varies from year to year. Escaped values have been estimated using a 10 year trimmed mean at
<br />$36,124,353 for the general fund and $82,503,439 for the entire jurisdiction.
<br />• Completed new construction entry: This data entry point allows for the inclusion of new construction projects completed annually. Due to processing delays we suggest that a time frame of November - October
<br />be selected. (i.e. Nov. 2018 - Oct. 2019 for the 2021-22 FY). If completed new construction has resulted in a sale of the property it is likely that the new value will appear in the value increase due to transfers of
<br />ownership entry and therefore should not be also included in the completed new construction value.
<br />• Pooled Revenue Sources include supplemental allocations, redemptions for delinquent payments in Non -Teeter cities, tax payer refunds due to successful appeals, roll corrections and other adjustments
<br />applied after the release of the roll. The forecasting of these revenues should be developed based on historical averages over a minimum of 3 years.
<br />• General Fund Revenue Estimate does not include any ad valorem voter approved debt service revenue.
<br />Prepared on 1/27/20 Using Sales Through 12/31/19
<br />This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL Coren & Cone
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