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Tax and Assessment Data <br /> <br />CBRE VALUATION & ADVISORY SERVICES 14 © 2025 CBRE, INC <br /> <br /> <br />In California, privately held real property is typically assessed at 100% of full cash value (which is interpreted <br />to mean market value of the fee simple estate) as determined by the County Assessor. Generally, a <br />reassessment occurs only when a property is sold (or transferred) or when new construction occurs (as <br />differentiated from replacing existing construction). In the case of long-term ground leases, the general rule <br />is that a reassessment is made at the time of assigning or terminating a lease where the remaining term is <br />more than 35 years. For reassessment purposes, the lease term includes all options to extend. <br />Assessments for properties that were acquired before the tax year 1975-1976 were stabilized as of the tax <br />year 1975-1976. Property taxes are limited by state law to 1% of the assessed value plus voter-approved <br />obligations and special assessments. If no sale (or transfer) occurs or no new building takes place, <br />assessments may not increase by more than 2% annually. <br />The subject property is owned by the City of Santa Ana and is exempt from assessment. The 2025/2026 <br />tax rate for the area is 1.01477%. <br /> <br />  <br />  <br />City Council 17 – 30 2/17/2026