Los Angeles Los Angeles

The Tesla Fremont Factory is joining the list of properties with the highest property taxes in the State of California, according to a new report from Yardi. The Tesla Factory has the second-highest property tax bill in the state, following Disneyland Resort, which has the highest property tax bill in the state. Nationally, Disneyland Resort still has a big lead, it is ranked 22th nationally and second outside of New York, while Tesla is ranked 67th nationally and 13th outside of New York.

“2017 was the first year since Tesla took ownership of the Fremont facility in 2010 that property taxes came into play,” Adel Dobriban of Yardi, tells GlobeSt.com. “If Tesla resumes its tax abatement regimen, its tax contributions will likely not impact revenue as much as expected but should impact growth in other ways, mainly in terms of job creation and value-added contributions. Per Tesla’s recently published economic contributions report, it supplied the state and government with a total of $328 million in taxes this past year. Of course, property taxes only make up a small portion of the total, but it remains to be seen how the numbers will change in the coming years.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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