The assessed value of properties in Los Angeles County jumped by 6.13 percent over the past year, marking the fifth consecutive annual increase, according to figures released Monday by the assessor’s office.
This year’s roll put property valuation in the county at $1.26 trillion, an increase of $73.1 billion over the last year.
Residential real estate sales were the largest contributors to the year- over-year increase, representing 3.09 percent of overall growth, according to the assessor’s report.
The fastest growing among the county’s 88 cities last year were West Hollywood at 9.8 percent growth, Beverly Hills at 9.1 percent, Arcadia at 8.8 percent, Palmdale at 8.3 percent and Manhattan Beach at 8.1 percent.
The total assessed value for the City of Los Angeles was $500.4 billion, which represents an increase of 7.2 percent over last year.