Manhattan Beach Nears $25B in Property Values

Property values for the whole city of Manhattan Beach are up this year by more than 5% year-over-year.

Specifically, Los Angeles County's final totals for all assessed values in Manhattan Beach for 2023 are up to almost $25 billion, including residences and commercial properties.

The figure is known as the "Final Assessment Roll" (or "Roll") for 2023. It's the annual inventory of all taxable real and business property in the city from which property taxes are calculated and collected. (Schools, parkland, churches and other exempt properties are not included.)

The total 2023 Roll net value for Manhattan Beach is $24.93 billion, an increase of $1.25 billion, or 5.3%, over the prior year.

From a longer-term perspective, that's an increase of about $11.5 billion from 10 years prior, when the total of assessed values was $13.45 billion.

The county's figures are based on Manhattan Beach's 11,137 single-family homes, 1,304 residential income units, and 495 commercial-industrial parcels, for a grand total of 12,936 taxable properties.

How Other South Bay Cities Are Valued

Manhattan Beach has the highest Roll value among the three beach cities (go, team!).

Redondo Beach came in fairly close in 2023 at $21.58 billion, a 5.6% increase year-over-year. But to approach Manhattan Beach's totals, Redondo takes advantage of its greater size. Redondo has 66% more single-family residences (18,461), and nearly twice as many residential income units (2,223) and commercial properties (921).

Hermosa Beach's Roll value for 2023 was an impressive $10.17 billion, with only 46% of the single-family housing of MB (5,153), plus 1,301 residential income units and 638 commercial properties, notably more than Manhattan Beach's 495.

The enormous city of Torrance, with almost 36,000 single-family residences and over 41,000 properties in its Roll, was at $38.19 billion for 2023. 

The four incorporated cities of the Palos Verdes area totaled $32.57 billion, on a total of 24,798 properties.

Countywide, the 2023 Roll reflects a total net value of $1.977 trillion, representing the 13th year of consecutive property value growth; a $111 billion increase or 5.91% growth over 2022.

The county says that total value will generate about $20 billion to be allocated for vital local public services, such as public safety, public schools, roads, hospitals, and librarians.