Property tax assessments are rising quickly in Santa Clara County cities, driven by major tech companies. Mountain View leads with the highest property value growth, followed by Santa Clara. Despite the increase, there are fewer residential transactions and challenges in the commercial real estate market. Google's cancellation of a large office project in Mountain View reflects the slowdown. The report predicts more commercial property assessment appeals, impacting tax revenue. The region's strong tech industry and trillion-dollar companies offer hope for the future.

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