Exclusive listing: 1450 Stockton St, St. Helena, California 94574
In yet another sign that our local real estate market is continuing to recover, this fiscal year’s assessment roll shows Napa County property values increasing by 5.34 percent, or $1.5 billion.
The Napa Valley Register reports that the increase is the first time in six years Napa County property values have surpassed 2 percent growth. The last fiscal year’s roll experienced gains in the NapaValley real estate industry of only two percent. There are several factors that came together to create the $1.5 billion increase in value. One is Proposition 13’s two percent inflationary adjustment that’s tied to increases in the cost of living. Another is the 18 percent, or $275 million, attributed to an upward adjustment for some decline-in-value properties. Older Prop 13 base home sales and new construction round out the remainder of the increased value.
Here’s how our local jurisdictions break down:
• 5.13 percent increase for unincorporated Napa County.
• An increase of 4.98 percent in assessed value for American Canyon.
• A 2.97 percent increase in Calistoga, following a 1.4 percent gain last year.
• A rise of 5.2 percent in Napa, after experiencing only a 1.1 percent increase last year.
• A significant jump for St. Helena properties of 9.61 percent compared to 2.3 percent last year.
• An increase in Yountville of 3.59 percent, following last year’s increase of 1.78 percent.
If you are looking to buy or sell a real estate in Napa Valley or Sonoma Valley, give me a call at 707-963-9195.
