Newport's Property Value Increase Tops County

Newport Beach has the highest increase in assessed property values, a report from the Orange County assessor's office showed. 

In its 2013-2014 Local Assessment Roll of Values, the assessor's office ranked Newport Beach first among Orange County’s 34 cities with the highest assessed value increase by percentage, at 5.21 percent. The city ranked second in the county in total assessed value at $42.3 billion, Irvine holds the top spot at $50.8 billion.

"The investments we have made in our infrastructure, harbor, and public facilities pay off in higher property values for our residents," Mayor Keith Curry said in a released statement. "Our leadership in assessed valuation growth shows that Newport Beach continues to be among the most financially strong,
desirable and vibrant cities in America."

Newport Beach is followed by Laguna Beach with the second highest increase at 4.68 percent and Villa Park at 4.66 percent.

According to a city news release, property taxes have historically been the largest single revenue source for Newport Beach and account for nearly half of the city’s annual General Fund revenues.

Assessed property values in Newport Beach have remained strong due to the demand for scenic coastal property, the city’s low crime rates, its desirable climate, and the City’s continued investment in the upkeep and quality of its community services, facilities and amenities.

To see the full report on the Assessment Roll of Values, visit ocgov.com/gov/assessor.

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