Santa Clara County Property Values Reach Record $760.1 Billion in 2026-27
What is the current state of property values in Santa Clara County? Santa Clara County’s taxable property base has hit a record $760.1 billion for the fiscal year 2026-27, representing an increase of $34.4 billion. Ownership changes contributed approximately 50% of this yearly gain, while residential transactions accounted for about 80% of transfer-related value, highlighting the crucial role of housing in the county's tax revenue. New construction added $4.9 billion, although this figure falls short of historical expectations due to delays in several major development projects throughout the region. In commercial real estate, pressures remain evident as office vacancy rates linger near 20% for a third consecutive year, with $153.6 billion in property values currently under appeal and 24,700 properties experiencing value declines. The county anticipates an uptick in commercial assessment appeals in the coming year, though the assessor expresses long-term confidence in the market, with nearly 50% of tax revenue allocated to support local schools.
Understanding these trends in Santa Clara County's property values is essential for anyone interested in real estate, investment opportunities, or community planning.
For expert insights on the Santa Cruz real estate market, connect with Seabea Ghoph, REALTOR® at Keller Williams Thrive.