Thousand Oaks homeowner argues wildfire risk is depressing market value; assessor recommends upholding enrolled value

Chris Sam, a Thousand Oaks homeowner, told the Ventura County Assessment Appeals Board No. 2 on April 28 that growing wildfire risk and related insurance constraints are depressing market values for homes that back onto open space and urged the assessor and the board to adopt valuation criteria that account for those risks. The assessor, after presenting four nearby sales the office judged comparable, recommended the board sustain the assessor’s enrolled factored base‑year value for the Jan. 1, 2024 lien date.

Sam said his home abuts Wildwood Regional Park and described recent efforts to “harden” the property — vent screens, gutter guards and tree removal — at a cost he estimated at about $9,000, with additional measures still being considered. He told the board that difficulties obtaining homeowner insurance and buyers’ reluctance to purchase properties in high fire‑risk zones have already caused market setbacks in his neighborhood, including recent price reductions and canceled sales.

“Properties adjacent to large open‑space areas with elevated fire hazard are facing a real market impact,” Sam said. He…