Los Angeles County Assessor Jeffrey Prang has released the 2021 Annual Report, which showed growth and increases in the assessed value of taxable real property despite the enduring pandemic.

The report also includes an updated listing of the county’s 88 cities, including the highest valued cities and those with the highest percentage change from the prior year.

“The 2021 Annual Report helps the public easily access information about the Office of the Assessor, including how property values in each area of the county changed during this last, most challenging year,” Prang said. “The diligent work of our staff during these difficult times saw us find new ways to produce and complete our vital functions that ultimately serves as the foundation of the property tax system which generates $17 billion in revenue for vital public services, especially now when the county needs it the most.”

The 2021 Annual Report is broken down into categories and chapters, providing a comprehensive view of the strength of the Los Angeles County real estate market. It reveals that last year nearly every city in Los Angeles County recorded an increase in assessed valuation compared to 2020.

The report also highlights the total net value of $1.76 trillion for the entire county, indicating the 11th consecutive year of growth, an increase of $62.9 billion (3.7%) over 2020. That value places $17 billion into county coffers to be used for public services.

The report also includes the latest information on the new constitutional amendment, Proposition 19, as well as the office’s many legislative advancements. Also, it outlines the many tax resources and tax savings’ programs available, along with a detailed explanation of California’s property tax system.

Every year, the report lists the top 20 highest valued cities in the county. The top five highest valued cities for 2021 remain the same, with the city of Los Angeles at No. 1 with an assessed valuation of $723.6 billion (4% increase); Long Beach ($65.7 billion, 3.5% increase); Santa Monica ($43.834 billion, 3.7% increase); Beverly Hills ($40.6 billion, 4.1% increase); and Santa Clarita ($38.3 billion, 1.1% increase).

Prang also reminded residents that average growth does not mean property owners will be subject to a corresponding increase on annual property tax bills. Nearly nine out of 10 property owners will see only a 2% adjustment, in accordance with Proposition 13.

To view the 2021 Annual Report, visit assessor.lacounty. gov/reports.