6 ms·

At $225/sq ft it would be bad news. I’m sure a lot of newer properties are assessed at triple that.

• ahahahahah 3y ago
  No reason to assert your surety or not, it's in the damn article: > According to real estate firm JLL, approximately 48% of office space have been resold or refinanced since 2015 at an average price per square foot of around $700
  • jeffbee 3y ago
    Refinancing a property doesn't trigger reassessment for property taxes in California. It has to change hands. So this statement means nothing.
    • prpl 3y ago
      It would be free to do some token new construction or change of ownership though
      • jeffbee 3y ago
        You interpreted my remark backwards. What I meant to say was that refinancing in the past would not have triggered assessment, so the fraction of properties refinanced doesn’t imply properties that are assessed above market value. Owners can always ask for a downward assessment, without a change of control.
        • prpl 3y ago
          Ah yeah, I see. I was thinking more about the downward assessments on sold buildings. Below $400/sq ft is pre-2010 prices.