Thursday, August 17, 2017

The Assessor's Office is seeing an increase in property tax defaults this year.

The Assessor's Office is seeing an increase in property tax defaults this year. Most commercial properties that qualified for a reduced assessment during the recession had their assessed values brought to fair market by 2015. Lower cap rates have been driving up commercial values, placing pressure on income property owners with recently assessed properties. The Assessor's office bases all commercial property tax assessments on fee simple values, a scenario that assumes new fair market leases in place for income properties. #SanDiego
http://www.nbcsandiego.com/news/local/More-Than-22000-San-Diego-County-Property-Taxpayers-in-Default-440860353.html