Every year, Metropolitan receives an updated assessed valuation of all properties in our six-county service area. This year, for the first time, the total valuation topped $3 trillion.
-- Los Angeles $1.5 trillion
-- Orange $625 billion
-- San Diego $538 billion
-- Riverside $196 billion
-- San Bernardino $120 billion
-- Ventura $108 billion
The assessed value is used by the counties to calculate property taxes. But it also determines how many representatives each member agency has on Metropolitan's Board. That's because each member agency is entitled to one board member and then may appoint an additional representative for each full 5 percent of the taxable property in their service area.
Based on the overall assessed valuations for FY 2019/20, there is no change in the number of directors each member agency currently has on the Board.
Still, the new numbers reveal some interesting trends. The member agencies with the largest percentage gains in assessed value were Compton and West Basin MWD (both up 7.2%), followed by Los Angeles, Anaheim and Eastern MWD (all had a 6.8% increase).
For total property values, Los Angeles led - with the San Diego County Water Authority and the Municipal Water District of Orange County close behind.
And in case you're wondering just how much 3 trillion is, consider this: three trillion seconds equals about 95,000 years.