Santa Clara County Assessor Larry Stone announced today that the county’s net assessment roll increased by 7.9 percent to $419 billion, an increase of $30.9 billion, a virtual tie with last year. The assessment roll growth during the past four years has exceeded the growth for the preceding ten years. The assessment roll is a snapshot of the assessed value of all real and business personal property in Santa Clara County as of the January 1, 2016 lien date.
“Silicon Valley’s strong economy has erased most of the losses in property values incurred during the ’Great Recession’,” said County Assessor Larry Stone. “That’s great news for all property owners, as the largest single asset that most people own is their home. Santa Clara County is once again leading the region, and the state.”
“The Silicon Valley economy is the envy of the nation, posting 60 consecutive months of job gains. Unlike the previous jobless recovery, unemployment dropped to 3.8% in Santa Clara County, the sixth consecutive month below 4%, lower than the state at 5.4% and the nation at 5%. The valley’s growth has been driven primarily by the high technology industry.”