Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Board of Equalization adopts 2025 unitary values; overall statewide total up 8.4%
Summary
The California Board of Equalization on May 28 adopted staff-recommended unitary values for state-assessed properties, a portfolio that increased 8.4% from last year driven largely by investments from the gas and electric industry. The board voted industry-by-industry, with recusal noted for several companies.
The Board of Equalization on May 28 adopted staff-recommended unitary values for state-assessed properties, setting the total 2025 unitary value 8.4% higher than the previous year.
The unitary valuation process, presented by Jack McCool, chief of the State Assessed Properties Division (SAPD), determines the fair market value of assets used in the primary functions of utilities, railroads and other state assessees. McCool told the board that "this year's unitary values are 8.4% higher than last year's unitary values after adjusting for the results of last year's appeals." He said the gas and electric industry accounts for over 74% of the total unitary value and that the four largest utilities alone represent over 70% of the statewide total.
Why it matters: counties use BOE allocations of unitary value to levy local property taxes. Changes in the state-assessed roll flow to county auditors, special districts and school districts as local revenue, and large swings—especially in utilities—can materially affect local…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
