Pasadena, San Gabriel cashing in on property taxes

The annual county assessor's report, which came out recently, labeled Pasadena and San Gabriel as two of the top five cities in the county in terms of increasing their property taxes over the last year. Here is the assessor's explanation for their success:

PASADENA

Pasadena has seen an increase in property values due to its efforts in promoting the integrity of its historical neighborhoods and the expansion of multi-family housing projects near major corridors and transit hubs. Major investment in the renovation of Pasadena's Central District and the development of mixed-use projects such as the DeLacey at Green, TRIO, Del Mar Station, Westgate Pasadena, and Archstone Pasadena apartments increased the value of the city's properties, which were further enhanced by important educational, business, and recreational centers.

SAN GABRIEL

San Gabriel's growth in assessed value over the last year was driven by the demand for homes in a community close to major business centers in downtown Los Angeles and important residential communities such as San Marino. The city has implemented zoning laws to allow a greater population density in major corridors and has also invested in the redevelopment of its Mission District. Much of the city's value increase comes from changes in ownership and new construction.

I'll be writing a more detailed story on how the San Gabriel Valley did compared to the county as a whole for Thursday's paper.