Los Angeles County, CA — Property Tax Underwriting Guide
California · Prop 13 event-driven
What this means for multifamily underwriting
Seller's Prop 13 base can be a fraction of market. Post-sale reset to ~purchase price is the single biggest LA underwriting trap.
Transaction type breakdown
Under Prop 13, a change in ownership reassesses to current market value (typically purchase price). Only the portion that changes ownership is reappraised.
Refinance is an excluded event — no reassessment for a straight refi with no ownership change.
Entity-level transfers of control can constitute a change in ownership and trigger reassessment.
Tax appeal information
Effective rate is the 1% Prop 13 cap plus the Tax Rate Area's voter-approved debt service; confirm the subject's TRA. Appeal timing directionally aligned — validate against the current-year calendar.
Guide review
County guidance last reviewed: July 16, 2026
Tax-rate scope: County-level underwriting placeholder; not a parcel-specific tax rate.
Official sources: Assessor, Treasurer & Tax Collector, Assessment Appeals Board
1% Prop 13 base plus voter-approved bonds ≈ 1.16–1.25% (12.2 mills) per LA County Auditor-Controller. Bonds vary by Tax Rate Area — confirm the parcel's TRA.
Sources
Parclio estimates are underwriting guidance, not legal or tax advice. Always verify millage rates, the seller's assessed value, and appeal deadlines with the county assessor or local counsel before relying on these numbers for a credit decision.
Run a tax reset estimate for Los Angeles County
Use Parclio's estimator to model the post-closing tax bill, NOI impact, DSCR change, and underwriting memo language for your next Los Angeles County deal.