Malibu Tax Roll Has Gain

• Meeting with Assessor Planned

BY BILL KOENEKER

The Malibu City Council is expected to meet the new Los Angeles County Assessor John Noguez at its meeting next week.

Noguez will be able to deliver some good news about Malibu to the council based on the annual report his office just recently issued.

The municipality ranked 13 in the top 20 highest valued cities in Los Angeles County, according to the county assessor's office in its 2011 annual report.

The 2011 assessed valuation for the coastal city is a whopping $11.3 billion for the total of 7,330 parcels and business property assessments, county assessor Noguez noted in his report.

That amounted to a 3.6 percent growth for 2011 over the previous year, which was attributed by the assessor to reappraisals due to changes in ownership.

By way of comparison, Santa Monica scored a 3.2 percent gain, while Beverly Hills recorded a 1.2 percent change. The highest scoring city out of the top 20 is Manhattan Beach with a 4 percent growth in its assessments.

According to the assessor, Malibu added $390,674,279 to its tax rolls in 2011.

The county overall experienced a 2011 assessment roll reflecting a 1.49 percent increase in value, ending two years of decline and producing a property roll of more than a trillion dollars for the county. The gross total property roll is $16.2 billion greater than last year, according to Noguez's report.

As city officials are wont to do, they constantly remind Malibuites that the city does not get all of those property taxes generated each year, but only a small fraction of those property taxes.