By Dan Walters in The Sacramento Bee

July 11, 2016

A strong surge in real estate transactions, new commercial and residential construction and rising housing prices should generate a $3-plus billion increase in property tax revenues for schools and local governments during the current fiscal year.

Local property tax assessors closed their books on June 30 and are reporting valuation gains ranging as high as 9 percent in San Francisco, which has the state’s hottest property market.