How often are properties reassessed?

Properties in Los Angeles County are generally reassessed on a regular basis as part of the property tax assessment process. However, the frequency of reassessment can vary based on several factors. Properties typically maintain their assessed value until there is a change in ownership or new construction. When a property is sold, its value is reassessed at market value, which can lead to an increase in property taxes. Additionally, improvements to a property, such as renovations or expansions, can trigger a reassessment. According to California Proposition 13, properties are reassessed annually based on inflation, but the increase is capped at two percent each year, unless a change occurs as mentioned above. This means that a property owner will generally see their assessed value adjusted annually, but it may not reflect significant changes in the local real estate market unless there has been a change of ownership or substantial improvements. For more specific details about reassessment timelines and any changes, it is advisable to check the current web page of the Los Angeles Assessor Office, as they provide updated and detailed information regarding property assessments.