Commercial Real Estate Market Data and Analytics Platform for San Mateo County Mass Appraisal Assessments

This solicitation seeks to obtain subscription-based, unlimited access to the proposer’s existing Commercial Real Estate Sales and Market Data and Analytics Platform through an online interface (hereinafter referred to as the “CRE Database Platform”). The CRE database platform will be utilized by the Assessor’s commercial appraisal staff to support the mass appraisal and valuation of commercial and industrial properties in San Mateo County using the Sales Comparison and Income Approaches to value.

Accordingly, the Assessor’s Office invites proposals from qualified vendors with a demonstrated ability and proven track record of providing a comprehensive, defensible, and scalable CRE database platform for commercial and industrial properties. At the conclusion of this procurement process, the Assessor’s Office will select the platform that best satisfies the requirements of this solicitation and provides the greatest overall value to the County.

The selected CRE database platform will support, among other functions, the Sales Comparison and Income Approaches to value in the mass appraisal of the County’s diverse commercial and industrial property base.

The San Mateo County Assessor’s Office is located in Redwood City, California, and serves the residents and property owners of San Mateo County. Among its statutory responsibilities is the valuation of residential, commercial, industrial, and special-purpose properties for property tax assessment purposes. Property valuations may be developed using one or more of the three recognized approaches to value: the Sales Comparison Approach, the Income Approach, and the Cost Approach.

Property owners may disagree with the assessed value of their property, and such disagreements may result in formal appeals filed with the County Assessment Appeals Board. To value, appraise, and reassess properties following a change in ownership, new construction, or a decline in market value, the Assessor’s Office contracts with providers of property sales data, lease and income data, and construction cost data covering properties located within San Mateo County and neighboring counties.

The San Mateo County Assessor’s Office has historically subscribed to a CRE database platform that has met its needs for sales and market data used in property valuation, assessment reviews, decline-in-value analyses, Assessment Appeals Board hearings, litigation support, market trend analyses, ratio studies, mass appraisal activities, and the administration of the property tax system. Going forward, the selection of a provider offering a similarly comprehensive and credible commercial real estate database and analytics platform will be conducted through a competitive solicitation process to ensure the County obtains the best value.