Alameda County real estate values are growing at their most feeble pace in three years.
OAKLAND — Alameda County real estate values are growing at their most feeble pace in three years, and efforts by owners of office buildings to appeal their assessments might further undermine values.
“The real estate market this year…was particularly impacted by rising interest rates,” Alameda County Assessor Phong La said in a prepared release to announce the new overall tax roll. The sluggish increase measured as of January 2021 was expected in the wake of the economic afflictions that the coronavirus spawned.
That, in turn, has caused rents for office spaces to falter and the values of office buildings to erode. The property taxes that arise from a parcel’s assessed value also supply a crucial flow of revenue for an array of services provided by numerous county, city and regional agencies and governments.
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