San Mateo County’s 2019-20 Property Assessment Roll Reaches Record High after Ninth Consecutive Year of Growth: Roll Value Increases by 7.1% to $238.4 Billion
June 28, 2019
(Redwood City, CA) San Mateo County Assessor Mark Church today announced the county’s Property Assessment Roll increased year-over-year by $15.9 billion, or 7.1%, to a record high of over $238.4 billion in assessed value.
“2018 marked another year of roll growth for San Mateo County,” said Church. “The combined assessment roll has increased by $97 billion from nine years ago. This is the ninth consecutive year in which a new historical high has been set”.
“While there was some softening in the residential market, record growth in commercial and mixed-use development helped push the total roll value to this new high,” Church added. “With the lowest annual unemployment rate in the state at 2.2% for 2018, according to the EDD, and continued growth of the labor force, San Mateo County’s local economy remains one of the strongest in the nation.”
“Our robust job market and economic growth continue to push the demand for housing and commercial space,” said Church. “As has been the case for several years now, the strong demand and low inventory in every sector of real estate, are the driving forces behind the high real estate values and rents throughout the county.”
The 2019-20 Property Assessment Roll reflects overall growth...Click to read more.