Santa Clara County’s taxable property value reached a record $760B, lifting the assessment roll that helps fund local governments, schools, and public agencies.
The assessment roll expanded by $34.4B, a yearly gain of ~5%, led by ownership changes, inflation adjustments, and $4.9B from new construction.
Ownership changes added $16.9B in assessed value, while inflation adjustments contributed $14B, showing resales and routine increases carried much of the county’s growth.
Residential sales generated 82% of value from ownership transfers, underscoring how housing supported Santa Clara County’s tax base even as elevated mortgage costs cooled demand.
A key watchpoint: ~$153.6B in assessed value was under appeal, with commercial properties driving 98% of challenges and billions in lost value.
Looking ahead, the county assessor warned more commercial appeals could pressure the roll, while construction remained a bright spot even with several major projects delayed.