Santa Clara County Property Values Reach $760B

Santa Clara County’s assessment roll hit a record $760.1B in the current fiscal yr, up $34.4B yearly, with growth accelerating to ~5%.
Ownership changes drove nearly $16.9B of gains, while residential properties made up ~80% of value change and delivered ~50% of overall growth.
Inflation added $13.1B and new construction nearly $5B, but commercial uncertainty moderated growth as more properties received assessment reductions across the county.
County professionals said lower-priced condos and townhomes softened, and 24,727 properties entered temporary decline status as the more affordable segment faced pressure.
Looking ahead, mortgage costs, inflation, policy shifts and rules for data centers and AI-related businesses could shape future assessment-roll growth in the county.