Tax assessor values all Santa Clara County property at $620B

The value of all taxable property in Santa Clara County is $620 billion, 7 percent more than last year, according to a new study.

The value of land, buildings, business equipment, airplanes, boats and mobile homes was up $43 billion across the county during 2021, the Silicon Valley Business Journal reported.

Every city and unincorporated pocket in the county saw significant increases in assessed property values from Jan. 1, 2021 to Jan. 1 of this year, according to the annual report from Santa Clara County Assessor Larry Stone.

The report looks at property values determined at the beginning of the calendar year for use in assessing taxes for the next fiscal year, which starts July 1. The office sends out assessment notices to property owners on June 30 as a heads up on what they will owe in property taxes in November.

The assessments were announced in a similar report last July.

Monte Sereno, a small bedroom community, and Mountain View, home to Google, saw the biggest increases. Property values in both cities jumped by more than 9 percent throughout last year.

San Jose saw a net property assessment of $231.1 billion, the largest of Santa Clara County’s 15 cities and its unincorporated area, running nearly $170 million larger than No. 2 Sunnyvale.

Total property values in San Jose rose more than 7 percent last year and accounted for 37.3 percent of the county’s total.

The 10 largest businesses in the county paid $25.1 billion in taxes to the county last year, according to the report.

Google, which had an assessed property value of $8.7 billion, topped the list by paying nearly $106 million in property taxes.

The top five also included Pacific Gas & Electric; Apple subsidiary Campus Holdings, which owns the company’s headquarters at Apple Park; Apple; and Cisco Systems subsidiary Cisco Technology.

The total value of all new construction in Santa Clara County in the fiscal year ending June 30 was $5.9 billion. New construction in Mountain View alone added $1.3 billion to its total property value, a higher tally than in any other city in the county.

Among the 12 counties in the Bay Area, Santa Clara County, with the largest population, was No. 1 at $619.9 billion. It was followed by Alameda, which had a total net roll of $375 billion and San Francisco, where the net roll was $325 billion.

In all of California, Santa Clara County had the fourth greatest assessment roll after Los Angeles, Orange and San Diego counties.

— Dana Bartholomew

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