4 LOS ANGELES COUNTY OFFICE OF THE ASSESSOR MESSAGE FROM ASSESSOR JEFFREY PRANG Growth and Progress for Our County It is with pleasure that I present the Assessor’s 2018 Annual Report for the County of Los Angeles. This report reflects significant growth in property values, success in the modernization of technology, and greater taxpayer participation in tax-saving programs. For 2018, the Assessment Roll produced by the dedicated experts of the Assessor’s Office shows record-breaking numbers, including: • Total Assessment Roll value of $1.51 trillion • 6.62% year-over-year property value growth countywide • 2.57 million real estate and business assessments • 5.9% growth in business investment in fixtures and technology • $598 million in savings for homeowners and community organizations While the Assessor’s Office is constitutionally responsible for identifying and valuing taxable property, its value to residents and businesses is far greater. We are working hard and implementing ground-breaking initiatives to realize that mission. Technological innovation is already creating greater efficiency in operations, enhancing public service, strengthening the security of the property tax system, and allowing us to process substantial growth in activity. With these new-found time and resources, and our aim of public service excellence, we have begun addressing persistent concerns and are pursuing new goals. Working with the Chief Executive Office, we have reduced the backlog of assessment appeals. Despite initial successes, there is much still to be done to ensure appeals are heard in a timely manner. Through robust community engagement and education programs, we have taken a proactive approach to raising awareness of the assessment process within our complex property tax system, as well as improving access to valuable saving opportunities for homeowners, businesses, and community organizations. In the past year alone, these efforts resulted in $598 million in direct savings through exemptions, as well as substantial exclusions from reassessment for families and seniors. I am immensely proud of the hard work by all those at the Assessor’s Office, and throughout Los Angeles County, who have made these successes possible. As always, please do not hesitate to contact us should you have questions or require additional information. Sincerely, JEFFREY PRANG Assessor