Agenda - 02-11-2011 - B - Laserfiche WebLink

Browse Search

PROPERTY TAX VALUATIONS IN ORANGE COUNTY — (1- 31 -11) TOTAL REAL PROPERTY VALUES = $14,356,519,468 TOTAL BUSINESS PERSONAL PROPERTY = $369,676,271 TOTAL PUBLIC UTILITIES = $228,934,751 TOTAL MOTOR VEHICLES = $498,806,282 HOMESTEAD EXEMPTIONS AND OTHER EXEMPTIONS = $61,986,016 (Over 1000 residential properties qualify for senior or disabled releases.) TOTAL OF 51,700 TAXABLE PARCELS OUT OF 54,000 TOTAL PARCELS TOTAL REAL PROPERTY VALUATIONS = $14,356,519,468 (100 %) RESIDENTIAL VALUATION = $12,139,498,221(84.6 %) (Includes agricultural lands) COMMERCIAL VALUATION = $2,217,021,247 (15.4 %) • This number includes residential apartment complexes and any residential property used exclusively as investment property for lease or rent (IF) the property owner files accordingly. • Currently, County records indicate the listed valuation of apartment complexes with 40 or more units at $456,703,758 (20% of commercial values) • The NET value of Commercial (NON Residential) is estimated at $1,760,317,489 or approximately 12.2% of Real Property Valuation • This does not account for residential rental complexes of 40 units or less. IN NET TERMS, REAL PROPERTIES WITHIN ORANGE COUNTY ARE ROUGHLY 88% NON COMERCIAL (RESIDENTIAL AND OTHER). NONE OF THIS ANALYSIS CONSIDERS THE TAXABLE VALUE OF ALL OF THE VARIOUS TAX EXEMPT PROPERTIES WITHIN ORANGE COUNTY OTHER THAN THE HOMESTEAD EXEMPTIONS NOTED ABOVE. Transferring these numbers to actual taxes paid equates to direct taxes paid by Non Residential taxpayers (Commercial Interests, excluding Public Utilities) to roughly 13.8% ($18.3 million of a total of $132.6 million). IN REAL TERMS, EXPANSION OF THE NON RESIDENTIAL TAX BASE WOULD HAVE A DIRECT IMPACT ON ORANGE COUNTY RESIDENTS AND TAXPAYERS. (No impact for sales tax generation is included in this analysis.) (fwc 1- 31 -11) . 30