San Diego Commercial Appraiser: 2020

Tuesday, December 22, 2020

Photos Of New Amazon Distribution Facility Under Construction in South San Diego County

These are some photos of the new Amazon facility and new freeway interchange under construction in the Otay Mesa area of San Diego County.

San Diego Amazon Building Under Construction

New distribution facility facing east along the west property line.

Alternate view of Amazon development facing southeast from Otay Mesa Road.

Otay Mesa Freeway Interchange Under Construction

View of freeway interchange under construction facing north from Otay Mesa Road.

Economy Is Performing Better Than The Mid Year Forecast Estimates

The Economist published an article in November 2020: What A Vaccine Means For America's Economy

As the new quarterly numbers are posting up our appraisal office has noted and concurs with the Economist - that the actual numbers of the broad economic indicators of GDP and Employment both nationally and locally in San Diego indicate much better economic resilience than originally projected by most forecasts earlier in the year and over the summer.

Friday, July 3, 2020

Thursday, June 4, 2020

New Property Tax Assessment Initiative to Appear on November 3, 2020 Ballot

The California Association of Realtors initiated a constitutional amendment that has obtained the necessary signatures and is to appear on the ballot for November 3, 2020.

Link to new bill: Property Tax Assessment Bill

The proposed law would allow eligible homeowners to transfer their tax assessments anywhere within the State of California. The law would increase the number of times a tax assessment can be transferred from one to three. The law would allow tax assessments to be transferred to a more expensive home with an upward adjustment.

The proposed law would address reassessments for inherited properties and changes in ownership of business properties. In California, parents or grandparents can transfer their properties to their children or grandchildren without the property's tax assessment resetting to market value, which would happen upon sale to someone else.

For properties that are not the parent’s main residence: vacation homes, business properties, rental properties, the first $1 million of taxable value is to be exempt from re-assessment. The proposed initiative would require that properties not used as main residences be reassessed at market value when inherited and exclude the first one million exemption. The residential property reassessment exemption would change so that the first million would not be reassessed while the remaining value would be reassessed.