Eldorado County Assessor reports $2B growth driven by new construction and assessments

El Dorado County's Economic Development Corporation (EDC) Board Meeting on February 4, 2025, highlighted significant growth in the county's economic landscape, with a reported increase of approximately $2 billion in total growth for 2024. This growth was primarily driven by supplemental assessments, new construction, and property sales, with supplemental assessments alone contributing $1.228 billion.

The meeting provided a detailed breakdown of the growth sources, revealing that 61% stemmed from sales and transfers, while 36% was attributed to the Proposition 13 Consumer Price Index (CPI) trend. The unincorporated areas of South Lake Tahoe and the city of Placerville were noted as key contributors to this growth, with substantial values reported in property sales and new construction.

In addition to economic growth, the meeting addressed the Assessor's Office budget, which is projected to see modest increases in net county costs over the next few years. The office aims to enhance public engagement, targeting 15 outreach events in 2025 to raise awareness about available services, particularly for low-income disabled veterans. Notably, there was a 27% increase in applications for disabled veterans exemptions compared to the previous year, indicating successful outreach efforts.

The board also discussed ongoing challenges, including staffing vacancies within the Assessor's Office. However, the office reported positive recruitment trends, with new appraisers and assessment technicians being hired to fill these roles.

Concerns were raised regarding tax assessments on properties affected by the Calder fire. The Assessor's Office confirmed that properties completely destroyed had received significant tax reductions, and any remaining issues would be addressed promptly.

The meeting concluded with a commitment to improve communication and public awareness of county resources, emphasizing the importance of transparency and community engagement in fostering a well-informed public. As the EDC continues to focus on economic growth and community service, the board's proactive approach aims to ensure that residents benefit from the county's development initiatives.