PRANG SWORN IN AS 27TH ASSESSOR
Keynote Address Highlighted Triumphs, Challenges Ahead
LOS ANGELES, CA – Jeff Prang was sworn in as the 27th Los Angeles County Assessor on Thursday at the Monterey Park City Hall.
Glendale City Clerk Dr. Suzie Abajian, who has a Ph.D. in Education from UCLA and was named Congressional Woman of the Year in 2018 by Rep. Judy Chu, D-28th Congressional District, administered the oath of office in the Monterey City Council Chambers in front of family, friends and other elected officials. The emcee was Fox 11 Good Day LA Anchor Bob DeCastro.
Prang won more than 50% of the votes in the June primary, therefore eliminated the requirement of a run-off in the November General Election. Jeff was first elected in 2014, again in 2018 and now in 2022.
Prang addressed the State of the Assessor as well as the County as a whole in his acceptance speech.
“The letter of the oath I took today is to fulfill a constitutional charge of fairly and accurately valuing taxable property, but the spirit of that oath is to put forth all of my effort for the well-being and success of the County and all the people who live in it, an aspiration I devote myself to every day,” Prang said during his address.
Assessor Prang administers a Department of about 1,400 employees located in six different offices throughout the County. He oversees the largest local property assessment agency in the United States and is responsible for valuing over 2.5 million real property parcels, which includes land and improvements.
Assessor Prang’s primary responsibility is the production of the annual Assessment Roll, which is essentially the inventory of all taxable property in the County. The Assessment Roll serves as an important planning document for local governments as they prepare their budgets in anticipation of property tax revenues. It also serves as an important economic indicator about the health of the local real estate market.
Assessor Jeffrey Prang recently certified the 2022 Assessment Roll, reflecting economic growth for the 12th-consecutive year with the increase in assessed value of all taxable property countywide. Assessments are based on the value of property as of the lien date of January 1, 2022.
The Roll grew by a record $122 billion, (or 6.95%), over the prior year to a $1.89 trillion in total net value. The total net value translates to nearly $19 billion in property tax dollars for vital public services such as public education, first responders and healthcare workers, as well as other County services.
The 2022 Assessment Roll comprises 2,589,521 million real estate parcels and business assessments, including 1,889,000 single-family homes, 250,000 apartment complexes, 248,000 commercial and industrial properties and more than 165,000 business property assessments.
