Yet another wonderful week where you wonder why if the assessor thinks your building is worth so much your tenants don’t agree. Of course we now look forward to the coming 10% hike in utility rates… Last week an owner told me how the City made him install a new sub-meter for water that complied with the new City requirements. This is for irrigation water only but cost the guy about $2,500 by the time he was done. This was just to replace a fully functioning meter he had installed only 10 years earlier, again in accordance with the City requirements. He joked that the Assessor would certainly increase his tax value now that he has the newer meter.