According to the July 1, 2009, report of the Contra Costa Assessor to the Board of Supervisors, the County Assessment Roll shows a decrease of $11.3 billion DECREASE in the local tax base for 2009-2010, a 7.2-percent loss in assessed values currently at $145.6B.
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According to Assessor Gus Kramer’s report, some Contra Costa cities faired worse than others—San Pablo -23.95%, Oakley -21.93%, Antioch -21.73%— with other cities in double digit decline. Orinda (5.39%), Lafayette (3.31%), and Moraga (1.85%) were the only cities in the county to show net gains during the period.
Prospects are not rosy as the trend is still “shows downward movement due to the current economy.”
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Unfortunately for CCC, the County budgeted using a 5% decline. This means new cuts.
KSH