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Taxable Property in the County Climbs By $19 Billion in 2001

Taxable Property in the County Climbs By $19 Billion in 2001

The total assessed value of all taxable property in the county increased by 8.7 percent, or $19 billion, during 2000 to 2001. It climbed to $232 billion for 884,740 parcels of real property, 32,200 boats, 18,178 mobile homes and 6,341 aircraft, announced county assessor, recorder and clerk Gregory J. Smith.

The top three commercial property sales in 2001 were the San Diego Tech Center, which sold for $130 million; Torrey Pines Science Park, which sold for $70.8 million; and Regents Square I and II, which sold for $62.6 million.

The assessor’s office also appraises properties that have changed ownership through company mergers and acquisitions. When Menlo Park-based Spieker Properties Inc. and Chicago-based Equity Office Properties merged last year, 23 San Diego County properties were involved, worth a total of $278 million.

Additionally, the La Costa Resort & Spa changed hands for $116 million, and the U.S. Grant Hotel sold for $58.7 million. Singing Hills Resort at Sycuan sold for $40.7 million.

The largest apartment property sale recorded in 2001 was Marbrisas, which sold for $62 million.

Three major new construction projects in 2001 were Archstone Mission Valley, a 726-unit apartment project valued at $85.9 million; Larkspur Energy’s electricity generation plant valued at $61.4 million; and Phase 1 of International Gateway of the Americas, a shopping center valued at $40.7 million.

San Diego’s assessed values topped $108.4 billion, an 8.3 percent increase. Assessments increased 10.8 percent to $13.9 billion in Carlsbad and went up 14 percent in Chula Vista to $11.8 billion.

San Marcos values increased the most of any city in 2001, going up 14.8 percent from $3.9 billion to $4.5 billion.

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