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Castaic Lake Water Agency considers tax hike: Declining property values may force an increase in property taxes on SCV homes

Posted by: Aqua Blog Maven on July 12, 2009 at 7:18 am

From the Santa Clarita Valley Signal:

Castaic Lake Water Agency could be forced to raise property taxes so it can continue bringing water from the Sacramento Delta to Santa Clarita faucets. Declining property values could for the move, said Valerie Pryor, administrative services manager for the agency.

“We did a preliminary estimate to adjust our portion of the property tax revenues to 5 percent of every $100 of home valuation,” Pryor said last week. The current tax rate is 4 percent of every $100 of home valuation.

For a $400,000 Santa Clarita Valley home, the annual tax bill for state water amounts to $160. If Castaic Lake Water adopts a 5-cent tax on each $100 of home valuation, the bill jumps to $200.

The 1-percent hike is still a preliminary estimate, Pryor said. “Until we receive the county’s assessment, we can’t be sure how much taxes could go up,” she said.

Read more from the Santa Clarita Signal by clicking here.

July 12, 2009 · Filed Under Other Water Agencies

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