Los Angeles County Tax Rolls Continue Slide, Drop 0.5%

County Assessor Kenneth P. Hahn shaved $2.6 billion off Los Angeles County’s property tax rolls as real estate prices continued their slide of the last several years. But officials voiced hope that the market was coming out of its tailspin.

In his assessment roll release this week, Hahn noted positive signs: more new construction, a slower drop in prices than in previous years and the first downturn in the rate of foreclosures in five years.

The 0.5% drop was the second time in two years that property tax rolls have declined, but economists were hopeful that brighter days were ahead.

“I was not pleased that we had another negative year,” Hahn said Friday, “but I am pleased and do look forward to the future because I really see a turnaround coming.”