Fires will worsen local budget conditions across Los Angeles County

As area leaders take stock of the long-term implications of this month’s Los Angeles area fires, they should consider the local government fiscal impact. Los Angeles County, the city of Los Angeles and Malibu can expect to take revenue hits from the conflagration and should budget accordingly.

Over 12,000 structures have been damaged or destroyed around the county, severely reducing their market value. Depending on when they were last assessed, many will also see significant losses in their taxable value as well.