Santa Clara County’s taxable property base reached a record $760.1B for fiscal 2026-27, ↑$34.4B, as resilient home values offset overall commercial weakness.
Ownership changes supplied ~50% of the yearly gain, and residential transactions generated ~80% of transfer-related value, underscoring housing’s importance to county tax revenue.
New construction added $4.9B, a bright spot below historical expectations, as several major development projects across Santa Clara County remained delayed recently.
Commercial pressure persisted: office vacancy stayed near 20% for a third yr, with $153.6B under appeal and 24.7K properties in decline-value status.
The county expects more commercial assessment appeals in the current year. The assessor also expressed long-term confidence, while ~50% of tax revenue supports schools.