Los Angeles County's total property value surpassed $2.27 trillion, marking 16 consecutive years of growth with a 4.5% increase despite wildfires and a cooling market. This rise will generate over $27 billion in property tax revenue for public services. New construction added $12 billion, and the median home price reached $982,000. Property tax increases are limited by Proposition 13, with many exemptions totaling billions in tax savings.