Property values drop again

The assessed values of properties in Los Angeles County dropped for the second year in a row, falling about $19 billion to just over $1 trillion, county Assessor Robert Quon said Tuesday.Troy Anderson in the Daily News.

The further reduction in overall assessed value should give additional property tax breaks to many homeowners, especially those who bought at the peak of the real estate market in 2007.

Specific information on property taxes was due out later this month or next as the assessor's office analyzes the numbers.