Page 32 - FY 2021--22 Revenue Outlook
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$(0.9) 2021 est
$0.2 2020
$1.4 2019 decline-in-value
$5.3 2018
$5.3 2017
$6.8 2016
$9.3 2015
$21.8 2014
$10.4 $(10.5) 2013 2012
Property Tax Change in Countywide Roll Due to Proposition 8 Adjustments (Billion Dollars) $(4.9) $(24.3) 2011 2010 Assessment Year Proposition 8 changes include temporary decline-in-value adjustments made for current market value conditions or Assessment Appeals Board findings for prior tax year valuations, as well as restoration-in-value adjustments made after market conditions recover. Between 2004 and 2007, restorations and declines in value nearly offset
$(11.0) $(44.5) 2009 2008 pandemic and a post-pandemic drop in demand. As the loss in value to commercial properties cannot quantified, there is risk that
$(0.3) 2007
$0.5 2006
$1.2 2005
$2.2 2004
$4.7 2003
$4.8 2002
$6.7 2001 adjustments may be greater.
30 20 10 0 (10) (20) (30) (40) (50)
