City Of Tulare Tops Property Value Report

The City of Tulare showed a remarkable 10.3% increase in assessed valuation - the value of all property - within the city in just one year.

The County Assessor's Office put out the annual report that showed the value of all property went up 5.7% countywide with a large percent of increase coming with the urban areas. Visalia remained the richest jurisdiction with a 6% increase over the last year and property valued at nearly $4.8 billion. "I think next year we will go over $5- billion." says Visalia city manager Steve Salomon.

Tulare's growth took it to over $1.86 billion - with growth coming higher than the city had estimated, says Kevin

Northcraft, city manager. "The town has been on a pretty good growth spurt," says Northcraft. That includes large additions like the new CPl plant and more upscale subdivisions. "We're seeing more commercial growth as well," says Northcraft pointing to new stores under construction in the northwest of the city. The latest is the new Foodsco store (Ralph's) that have submitted plans this week.

While the increase in property tax is good for the cities they get only 15% of the taxes while other jurisdictions get 85%. The big winner is the county that sees the increase where the property is within the cities or not.

Rapid subdivision growth this year is boosting local economies in this new fiscal year along with new subdivision growth is up 26% in May from a year ago, according to a Cuesta Title report.