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Transforming projects boosted home values amid pandemic

Ventura County assets values grew by 3.6% this 12 months regardless of the pandemic, many thanks to increasing property charges and building projects inspired by shutdown orders, officials said. 

Assessor Dan Goodwin sees the building surge as the most significant factor in the $5.3 billion progress in assessed values, up to a document $152 billion in the roll of attributes he accredited late past thirty day period.

The growth came inspite of reduced values for company homes that had to prohibit their operations during the pandemic, he claimed.

Main Deputy Assessor Keith Taylor said the range of constructing permits issued in the county rose by 11.5% from 2019, prior to the pandemic strike, to last calendar year when the lockdowns were imposed.

About 16,100 permits have been issued in the initial yr of the pandemic in 2020, up from the previous year’s 14,400. Most of the permits ended up issued for residential and industrial reworking tasks, Taylor reported.