The first installment of County property taxes are due today. And San Diego County is expecting a record take. KPBS Reporter Kenny Goldberg has the story.
San Diego County property tax revenue is expected to top $3.5 billion this year. Real property in the region has a combined assessed value of some $319 billion that represents more than a ten percent increase over last year's figure.
County Treasurer-Tax Collector Dan McAllister says there's an enormous amount of construction in the area.
McAllister: "You look downtown and you see just tons of new condominiums popping up virtually every month, it seems. I know that's true in the North County coastal region, it's true on the Otay Mesa and Eastlake."
McAllister believes local real estate prices are in a brief cooling-off period. He predicts the market will heat up again early next year.
Kenny Goldberg, KPBS News.
