David K. Ginsborg
 
  • Deputy to the Assessor
  • Phone: 408-299-5588

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The annual report has gone fully digital! To see the fun new interactive version of the report go to: Annual Report 2019- 2020 . As always the report is available in a PDF, which you can download below.

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Technology Centered Mega Developments Lead Silicon Valley’s Boom.

Assessment Roll Tops Half a $Trillion; Longest Period of Growth in Decades

Following the Great Recession of 2008-2010, Silicon Valley continues to experience an unprecedented economic boom as reflected in the assessment roll data released by Santa Clara County Assessor Larry Stone. Stone announced today that the annual assessment roll hit $516 billion, a 6.79 percent increase over the prior year. The assessment roll reflects the total net assessed value of all real and business property in Santa Clara County as of January 1, 2019.

During the past eight years, the assessment roll has grown 53 percent, more than any time since the hyperinflation period in the early 1980’s. Assessment Roll Total Value and Growth for every City and School District in Santa Clara County will be posted on-line at www.sccassessor.org.

The major beneficiaries of property tax revenue are public schools, community colleges, cities and the County. Fifty percent of local property tax revenue generated in Santa Clara County goes to fund public education.

The growth in the assessment roll is due to mega office and commercial property developments and major property acquisitions by iconic tech companies, including Apple, Google, LinkedIn, Adobe and Nvidia.

Two technology companies, Apple and Google, accounted for 3 percent of the total increase. The assessed value of all Apple properties increased by $271 million. In addition, the total assessed value of all Google properties increased by $759 million.

In addition to new construction and changes in ownership, the assessed values of business property,

i.e. machinery, equipment, computers, and fixtures grew by virtually the same amount as the prior year 3.3 percent, another indication that our local economy is beginning to cool. The final component of assessment roll growth is the two percent increase in the assessed value of all properties mandated by Proposition 13.

The growth in assessed value is the direct result of several economic factors. For the first time in history, the Bay Area has four million jobs, fed by the technology sector. In San Jose, the median household income increased 21.8 percent in the last three years to $122,000, the 10th highest in the U.S.

The unemployment rate in Santa Clara County is 2.1 percent, lower than the state at 4.3 percent and 

Santa Clara County Assessment Roll Close Media Release Page 1. of 3 July 2, 2019

the nation at 3.6 percent. That is equivalent of “full” employment. “We are adding jobs, in spite of record home prices, traffic jams, fears of trade wars and labor force constraints. If the Bay Area was a country, it would be the 18th largest economy in the world”, said Stone.

“Extremely low unemployment rates in Silicon Valley have driven the cost of tech talent to an all-time high, creating a serious high-tech labor shortage. Employers, particularly technology companies, are having problems hiring skilled employees due to sky-rocketing housing costs. The lack of affordable worker housing is making it impossible for employers to fill existing jobs”, said Stone.

“The Silicon Valley office market closed on another record year, a much longer period of expansion than the “dot-com boom”, 19 years ago. Office vacancy in Silicon Valley has declined from 25 percent in 2009, to 7.4 percent at the end of the first quarter. In Silicon Valley, 7.7 million square feet of office space was under construction in the first quarter of 2019, the most since 2000. Seventy-five percent of the 7.7 million square feet was pre-leased before completion of construction. Google has 20 million square feet of office space under lease in Silicon Valley, most of it in Santa Clara County. Vacancy countywide is 1.7 percent for warehouse, and 2.7 percent for industrial at the end of the first quarter, an 18-year low. Apartment rents have increased 52 percent since 2010, with vacancy below five percent”, said Stone.

Assessor Stone cautioned that “there are early indicators that the economy may be in transition if for no other reason than we are due for a recession. Nationally, job growth in 2019 has slowed dramatically. We are seeing a marked increase in “for rent/lease” signs outside of major apartment complexes in addition to concessions such as free rent and reduced deposits to attract tenants, a clear signal that the peak of the apartment market has passed.

The same is true in the commercial sector. The unsustainable and frenzied leasing activity of 2015 and 2016 has slowed, in part, as a result of the significant increase in the supply of new office space.” These changes will likely slow the assessment roll growth in future years. Consumer confidence recently dropped to the lowest level since September 2017.

The Santa Clara County assessment roll closed on time by the statutory deadline of July 1, 2019. For the 17th consecutive year, the Assessor operated below budget, returning $1.3 million unspent back to the County’s general fund.

Assessor Annual Notification of Assessed Value

On June 28, the Assessor’s Office mailed annual assessment notices to 492,423 property owners reporting each property’s 2019-2020 assessed value. The notice serves as the basis for the property tax bill mailed in the fall. Santa Clara County is one of only nine other counties in California providing early notice to all property owners. “Most property owners in California learn of their assessed value for the first time when they receive their property tax bill in October,” said Stone. The County Finance Agency has created a tool to help property owners learn exactly how much of their property tax dollars go to their neighborhood public schools, community colleges and government agencies, including the 15 cities and county government.

Property owners who disagree with the assessed value printed on their notice are encouraged to take advantage of the Assessor’s “online tool,” available 24/7, enabling property owners to review the sale of comparable properties the Assessor used to determine their assessment. An interactive service modeled after online banking, the Opt-In Tool, allows taxpayers to securely receive assessment 

notices, in addition to interacting with the Assessor’s Office electronically rather than by mail, telephone, or in person. To access the data, a property owner must have a username and password created last year, or the PIN listed on the annual assessment notice.

Property owners who can demonstrate that their assessed value is higher than the market value of their property are encouraged to request an informal review of their assessment. The Assessor’s property appraisal staff will complete as many informal reviews as possible prior to August 1, the deadline for making changes that will be reflected on the property tax bill mailed in the fall. More information is available at www.sccassessor.org.

Assessment Appeals

The annual notice also describes the process for filing a formal assessment appeal by the September 16, 2019 deadline. Residential property owners who decide to file a formal assessment appeal, are encouraged to request their appeal be adjudicated by an independent residential Value Hearing Officer (VHO), rather than the more formal three-member Assessment Appeals Board. VHO hearings are scheduled frequently, allowing for a more rapid resolution.

“Property owners who disagree with the assessed value should not wait for the tax bill before filing an appeal, as the tax bill is mailed by the Tax Collector after the assessment appeal filing deadline”, said Stone. More information is available from the Clerk of the Board by calling (408) 299-5088, or going to their website (http://www.sccgov.org/assessmentappeals).

Note: Additional information, such as a detailed city-by-city breakdown of the assessment roll, is available in the Assessor’s Annual Report published in August. Property owners who wish to receive the Annual Report can send an email to This email address is being protected from spambots. You need JavaScript enabled to view it..

 

City

City/RDA

Roll Type

2019/2020

2018/2019

Change %

Campbell

City

Secured

$9,527,522,092

$8,846,539,389

7.70%

Unsecured

$222,484,624

$201,043,159

10.67%

Total

$9,750,006,716

$9,047,582,548

7.76%

RPTTF Only*

Secured

$1,240,230,822

$1,063,485,148

16.62%

Unsecured

$73,295,053

$75,804,300

-3.31%

Total

$1,313,525,875

$1,139,289,448

15.29%

All

Secured

$10,767,752,914

$9,910,024,537

8.66%

Unsecured

$295,779,677

$276,847,459

6.84%

Total

$11,063,532,591

$10,186,871,996

8.61%

Cupertino

City

Secured

$24,370,718,536

$23,402,123,229

4.14%

Unsecured

$1,642,461,888

$1,780,065,668

-7.73%

Total

$26,013,180,424

$25,182,188,897

3.30%

Gilroy

City

Secured

$9,001,686,593

$8,445,397,378

6.59%

Unsecured

$257,499,646

$256,724,279

0.30%

Total

$9,259,186,239

$8,702,121,657

6.40%

Los Altos

City

Secured

$16,677,044,615

$15,607,418,715

6.85%

Unsecured

$131,971,942

$112,813,483

16.98%

Total

$16,809,016,557

$15,720,232,198

6.93%

Los Altos Hills

City

Secured

$8,513,267,978

$8,075,527,148

5.42%

Unsecured

$3,724,990

$3,773,145

-1.28%

Total

$8,516,992,968

$8,079,300,293

5.42%

Los Gatos

City

Secured

$11,793,052,101

$11,144,380,950

5.82%

Unsecured

$274,501,181

$298,728,273

-8.11%

Total

$12,067,553,282

$11,443,109,223

5.46%

RPTTF Only

Secured

$1,715,982,555

$1,649,370,473

4.04%

Unsecured

$57,016,031

$60,548,392

-5.83%

Total

$1,772,998,586

$1,709,918,865

3.69%

All

Secured

$13,509,034,656

$12,793,751,423

5.59%

Unsecured

$331,517,212

$359,276,665

-7.73%

Total

$13,840,551,868

$13,153,028,088

5.23%

Milpitas

City

Secured

$9,740,308,696

$9,038,217,944

7.77%

Unsecured

$726,173,370

$619,113,378

17.29%

Total

$10,466,482,066

$9,657,331,322

8.38%

RPTTF Only

Secured

$8,345,390,890

$7,549,820,791

10.54%

Unsecured

$1,185,011,212

$1,134,639,674

4.44%

Total

$9,530,402,102

$8,684,460,465

9.74%

All

Secured

$18,085,699,586

$16,588,038,735

9.03%

Unsecured

$1,911,184,582

$1,753,753,052

8.98%

Total

$19,996,884,168

$18,341,791,787

9.02%

Monte Sereno

City

Secured

$2,294,415,950

$2,189,334,093

4.80%

Unsecured

$585,703

$415,800

40.86%

Total

$2,295,001,653

$2,189,749,893

4.81%

City

City/RDA

Roll Type

2019/2020

2018/2019

Change %

Morgan Hill

City

Secured

$6,612,086,568

$6,168,785,548

7.19%

Unsecured

$188,022,222

$186,748,918

0.68%

Total

$6,800,108,790

$6,355,534,466

7.00%

RPTTF Only

Secured

$3,260,582,989

$2,951,595,357

10.47%

Unsecured

$168,684,911

$143,842,440

17.27%

Total

$3,429,267,900

$3,095,437,797

10.78%

All

Secured

$9,872,669,557

$9,120,380,905

8.25%

Unsecured

$356,707,133

$330,591,358

7.90%

Total

$10,229,376,690

$9,450,972,263

8.24%

Mountain View

City

Secured

$26,261,569,049

$24,158,000,441

8.71%

Unsecured

$1,425,305,647

$1,336,008,156

6.68%

Total

$27,686,874,696

$25,494,008,597

8.60%

RPTTF Only

Secured

$3,493,033,375

$2,955,792,774

18.18%

Unsecured

$727,998,180

$955,535,425

-23.81%

Total

$4,221,031,555

$3,911,328,199

7.92%

All

Secured

$29,754,602,424

$27,113,793,215

9.74%

Unsecured

$2,153,303,827

$2,291,543,581

-6.03%

Total

$31,907,906,251

$29,405,336,796

8.51%

Palo Alto

City

Secured

$37,331,775,663

$34,891,627,511

6.99%

Unsecured

$2,007,283,607

$1,969,849,924

1.90%

Total

$39,339,059,270

$36,861,477,435

6.72%

San Jose

City

Secured

$156,717,634,530

$146,107,209,554

7.26%

Unsecured

$4,839,672,750

$4,498,614,897

7.58%

Total

$161,557,307,280

$150,605,824,451

7.27%

RPTTF Only

Secured

$29,439,943,018

$27,390,727,449

7.48%

Unsecured

$4,678,498,448

$4,282,432,491

9.25%

Total

$34,118,441,466

$31,673,159,940

7.72%

All

Secured

$186,157,577,548

$173,497,937,003

7.30%

Unsecured

$9,518,171,198

$8,781,047,388

8.39%

Total

$195,675,748,746

$182,278,984,391

7.35%

Santa Clara

City

Secured

$34,418,067,714

$31,964,281,926

7.68%

Unsecured

$6,349,643,970

$5,883,830,530

7.92%

Total

$40,767,711,684

$37,848,112,456

7.71%

RPTTF Only

Secured

$4,184,271,264

$4,733,686,050

-11.61%

Unsecured

$1,279,888,594

$1,382,793,009

-7.44%

Total

$5,464,159,858

$6,116,479,059

-10.66%

All

Secured

$38,602,338,978

$36,697,967,976

5.19%

Unsecured

$7,629,532,564

$7,266,623,539

4.99%

Total

$46,231,871,542

$43,964,591,515

5.16%

Saratoga

City

Secured

$16,121,178,596

$15,350,010,137

5.02%

Unsecured

$46,109,923

$43,218,776

6.69%

Total

$16,167,288,519

$15,393,228,913

5.03%

City

City/RDA

Roll Type

2019/2020

2018/2019

Change %

Sunnyvale

City

Secured

$44,386,513,515

$41,080,747,027

8.05%

Unsecured

$3,427,516,307

$3,597,134,703

-4.72%

Total

$47,814,029,822

$44,677,881,730

7.02%

RPTTF Only

Secured

$1,777,654,227

$1,542,106,076

15.27%

Unsecured

$84,142,864

$132,134,268

-36.32%

Total

$1,861,797,091

$1,674,240,344

11.20%

All

Secured

$46,164,167,742

$42,622,853,103

8.31%

Unsecured

$3,511,659,171

$3,729,268,971

-5.84%

Total

$49,675,826,913

$46,352,122,074

7.17%

Unincorporated

City

Secured

$18,816,902,415

$17,761,809,854

5.94%

Unsecured

$230,474,622

$224,629,052

2.60%

Total

$19,047,377,037

$17,986,438,906

5.90%

RPTTF Only

Secured

$2,178

$2,136

1.97%

Unsecured

0

$0

 

Total

$2,178

$2,136

1.97%

All

Secured

$18,816,904,593

$17,761,811,990

5.94%

Unsecured

$230,474,622

$224,629,052

2.60%

Total

$19,047,379,215

$17,986,441,042

5.90%

   

Total

City

Secured

$432,583,744,611

$404,231,410,844

7.01%

Unsecured

$21,773,432,392

$21,012,712,141

3.62%

Total

$454,357,177,003

$425,244,122,985

6.85%

Total

RPTTF Only

Secured

$53,457,091,318

$49,836,586,254

7.26%

Unsecured

$8,254,535,293

$8,167,729,999

1.06%

Total

$61,711,626,611

$58,004,316,253

6.39%

Total

All

Secured

$486,040,835,929

$454,067,997,098

7.04%

Unsecured

$30,027,967,685

$29,180,442,140

2.90%

Totals

$516,068,803,614

$483,248,439,238

6.79%

   

`

*RPTTF - Redevelopment Property Tax Trust Fund

Elementary School

City/RDA

Roll Type

2019/2020

2018/2019

Change %

Alum Rock Union

City

Secured

$10,095,216,694

$9,156,050,427

10.26%

Unsecured

$160,213,952

$158,644,085

0.99%

Total

$10,255,430,646

$9,314,694,512

10.10%

RPTTF Only*

Secured

$109,673,313

$104,866,636

4.58%

Unsecured

 $ 161,284

$153,246

5.25%

Total

$109,834,597

$105,019,882

4.58%

All

Secured

$10,204,890,007

$9,260,917,063

10.19%

Unsecured

$160,375,236

$158,797,331

0.99%

Total

$10,365,265,243

$9,419,714,394

10.04%

Berryessa Union

City

Secured

$12,622,942,611

$11,789,998,630

7.06%

Unsecured

$271,904,134

$258,018,927

5.38%

Total

$12,894,846,745

$12,048,017,557

7.03%

RPTTF Only

Secured

$525,160,912

$355,411,958

47.76%

Unsecured

$16,414,355

$15,250,727

7.63%

Total

$541,575,267

$370,662,685

46.11%

All

Secured

$13,148,103,523

$12,145,410,588

8.26%

Unsecured

$288,318,489

$273,269,654

5.51%

Total

$13,436,422,012

$12,418,680,242

8.20%

Burbank

City

Secured

$433,401,592

$400,509,600

8.21%

Unsecured

 $ 5,166,144

$5,123,519

0.83%

Total

$438,567,736

$405,633,119

8.12%

Cambrian

City

Secured

 $ 6,622,761,339

$6,243,741,713

6.07%

Unsecured

$78,408,164

$81,435,750

-3.72%

Total

$6,701,169,503

$6,325,177,463

5.94%

RPTTF Only

Secured

$235,360,554

$222,946,583

5.57%

Unsecured

$25,466,909

$24,627,794

3.41%

Total

$260,827,463

$247,574,377

5.35%

All

Secured

$6,858,121,893

$6,466,688,296

6.05%

Unsecured

$103,875,073

$106,063,544

-2.06%

Total

$6,961,996,966

$6,572,751,840

5.92%

Campbell Union

City

Secured

$22,896,008,397

$20,972,239,509

9.17%

Unsecured

$582,361,580

$649,563,059

-10.35%

Total

$23,478,369,977

$21,621,802,568

8.59%

RPTTF Only

Secured

$1,004,870,268

$840,538,565

19.55%

Unsecured

$47,828,144

$51,176,506

-6.54%

Total

$1,052,698,412

$891,715,071

18.05%

All

Secured

$23,900,878,665

$21,812,778,074

9.57%

Unsecured

$630,189,724

$700,739,565

-10.07%

Total

$24,531,068,389

$22,513,517,639

8.96%

Cupertino Union

City

Secured

$43,509,476,741

$41,295,935,189

5.36%

Unsecured

$1,209,497,951

$1,214,345,036

-0.40%

Total

$44,718,974,692

$42,510,280,225

5.20%

Evergreen

City

Secured

$19,056,979,197

$18,123,306,501

5.15%

Unsecured

$153,412,064

$148,120,876

3.57%

Total

$19,210,391,261

$18,271,427,377

5.14%

 

Elementary School

City/RDA

Roll Type

2019/2020

2018/2019

Change %

Franklin McKinley

City

Secured

$9,344,509,361

$8,808,964,002

6.08%

Unsecured

$338,990,083

$327,508,417

3.51%

Total

$9,683,499,444

$9,136,472,419

5.99%

RPTTF Only

Secured

$772,741,203

$697,343,687

10.81%

Unsecured

$95,400,476

$87,592,735

8.91%

Total

$868,141,679

$784,936,422

10.60%

All

Secured

$10,117,250,564

$9,506,307,689

6.43%

Unsecured

$434,390,559

$415,101,152

4.65%

Total

$10,551,641,123

$9,921,408,841

6.35%

Gilroy Unified

City

Secured

$10,982,111,412

$10,332,177,849

6.29%

Unsecured

$327,285,399

$318,576,605

2.73%

Total

$11,309,396,811

$10,650,754,454

6.18%

Lakeside Union

City

Secured

$163,822,977

$151,975,876

7.80%

Unsecured

$82,733

$77,777

6.37%

Total

$163,905,710

$152,053,653

7.79%

Loma Prieta

City

Secured

$285,567,394

$276,074,368

3.44%

Unsecured

$1,044,623

$1,102,657

-5.26%

Total

$286,612,017

$277,177,025

3.40%

Los Altos Elementary

City

Secured

$25,563,786,568

$23,933,720,789

6.81%

Unsecured

$188,479,601

$165,433,682

13.93%

Total

$25,752,266,169

$24,099,154,471

6.86%

Los Gatos Union

City

Secured

$11,704,273,064

$11,051,055,890

5.91%

Unsecured

$192,263,935

$214,073,576

-10.19%

Total

$11,896,536,999

$11,265,129,466

5.60%

RPTTF Only

Secured

$1,715,982,555

$1,649,370,473

4.04%

Unsecured

$57,016,031

$60,548,392

-5.83%

Total

$1,772,998,586

$1,709,918,865

3.69%

All

Secured

$13,420,255,619

$12,700,426,363

5.67%

Unsecured

$249,279,966

$274,621,968

-9.23%

Total

$13,669,535,585

$12,975,048,331

5.35%

Milpitas Unified

City

Secured

$9,910,892,736

$9,199,236,024

7.74%

Unsecured

$727,616,163

$619,317,668

17.49%

Total

$10,638,508,899

$9,818,553,692

8.35%

RPTTF Only

Secured

$7,820,229,978

$7,194,408,833

8.70%

Unsecured

$1,168,596,857

$1,119,388,947

4.40%

Total

$8,988,826,835

$8,313,797,780

8.12%

All

Secured

$17,731,122,714

$16,393,644,857

8.16%

Unsecured

$1,896,213,020

$1,738,706,615

9.06%

Total

$19,627,335,734

$18,132,351,472

8.24%

Moreland

City

Secured

$9,635,562,378

$8,970,126,402

7.42%

Unsecured

$121,871,025

$119,465,977

2.01%

Total

$9,757,433,403

$9,089,592,379

7.35%

Morgan Hill Unified

City

Secured

$11,537,757,011

$10,834,316,993

6.49%

Unsecured

$277,916,694

$283,688,935

-2.03%

Total

$11,815,673,705

$11,118,005,928

6.28%

RPTTF Only

Secured

$3,260,582,989

$2,951,595,357

10.47%

Unsecured

$168,684,911

$143,842,440

17.27%

Total

$3,429,267,900

$3,095,437,797

10.78%

All

Secured

$14,798,340,000

$13,785,912,350

7.34%

Unsecured

$446,601,605

$427,531,375

4.46%

Total

$15,244,941,605

$14,213,443,725

7.26%

Elementary School

City/RDA

Roll Type

2019/2020

2018/2019

Change %

Mount Pleasant

City

Secured

$2,515,473,767

$2,339,542,922

7.52%

Unsecured

$7,664,459

$8,726,995

-12.18%

Total

$2,523,138,226

$2,348,269,917

7.45%

Mountain View Elementary

City

Secured

$23,483,031,160

$21,742,942,193

8.00%

Unsecured

$1,664,677,121

$1,449,785,639

14.82%

Total

$25,147,708,281

$23,192,727,832

8.43%

RPTTF Only

Secured

$3,493,033,375

$2,955,792,774

18.18%

Unsecured

$727,998,180

$955,535,425

-23.81%

Total

$4,221,031,555

$3,911,328,199

7.92%

All

Secured

$26,976,064,535

$24,698,734,967

9.22%

Unsecured

$2,392,675,301

$2,405,321,064

-0.53%

Total

$29,368,739,836

$27,104,056,031

8.36%

North County Union Joint

City

Secured

$40,830,219

$39,821,019

2.53%

Unsecured

$1,132,767

$1,226,623

-7.65%

Total

$41,962,986

$41,047,642

2.23%

Oak Grove

City

Secured

$13,612,645,042

$12,843,045,291

5.99%

Unsecured

$47,927,839

$46,779,975

2.45%

Total

$13,660,572,881

$12,889,825,266

5.98%

RPTTF Only

Secured

$3,980,040,381

$3,642,745,633

9.26%

Unsecured

$1,070,634,900

$796,530,154

34.41%

Total

$5,050,675,281

$4,439,275,787

13.77%

All

Secured

$17,592,685,423

$16,485,790,924

6.71%

Unsecured

$1,118,562,739

$843,310,129

32.64%

Total

$18,711,248,162

$17,329,101,053

7.98%

Orchard

City

Secured

$3,285,341,231

$3,170,081,423

3.64%

Unsecured

$441,102,519

$426,776,986

3.36%

Total

$3,726,443,750

$3,596,858,409

3.60%

RPTTF Only

Secured

$7,547,382,907

$7,132,431,750

5.82%

Unsecured

$945,265,007

$977,760,312

-3.32%

Total

$8,492,647,914

$8,110,192,062

4.72%

All

Secured

$10,832,724,138

$10,302,513,173

5.15%

Unsecured

$1,386,367,526

$1,404,537,298

-1.29%

Total

$12,219,091,664

$11,707,050,471

4.37%

Palo Alto Unified

City

Secured

$41,067,296,843

$38,426,282,833

6.87%

Unsecured

$2,011,448,006

$1,969,248,783

2.14%

Total

$43,078,744,849

$40,395,531,616

6.64%

Patterson Joint

City

Secured

$36,625,686

$34,998,522

4.65%

Unsecured

$46,414

$46,088

0.71%

Total

$36,672,100

$35,044,610

4.64%

San Jose Unified

City

Secured

$48,743,988,098

$45,318,131,362

7.56%

Unsecured

$2,514,815,825

$2,144,797,522

17.25%

Total

$51,258,803,923

$47,462,928,884

8.00%

RPTTF Only

Secured

$6,417,166,883

$5,665,987,517

13.26%

Unsecured

$368,862,066

$370,858,535

-0.54%

Total

$6,786,028,949

$6,036,846,052

12.41%

All

Secured

$55,161,154,981

$50,984,118,879

8.19%

Unsecured

$2,883,677,891

$2,515,656,057

14.63%

Total

$58,044,832,872

$53,499,774,936

8.50%

Elementary School

City/RDA

Roll Type

2019/2020

2018/2019

Change %

Santa Clara Unified

City

Secured

$41,572,536,934

$38,687,328,648

7.46%

Unsecured

$7,522,880,678

$7,173,587,093

4.87%

Total

$49,095,417,612

$45,860,915,741

7.05%

RPTTF Only

Secured

$14,797,211,773

$14,881,040,412

-0.56%

Unsecured

$3,478,063,309

$3,432,330,518

1.33%

Total

$18,275,275,082

$18,313,370,930

-0.21%

All

Secured

$56,369,748,707

$53,568,369,060

5.23%

Unsecured

$11,000,943,987

$10,605,917,611

3.72%

Total

$67,370,692,694

$64,174,286,671

4.98%

Saratoga

City

Secured

$12,393,962,677

$11,812,996,327

4.92%

Unsecured

$27,223,861

$27,907,510

-2.45%

Total

$12,421,186,538

$11,840,903,837

4.90%

Sunnyvale Elementary

City

Secured

$30,951,532,588

$28,448,476,821

8.80%

Unsecured

$2,838,684,146

$3,136,882,877

-9.51%

Total

$33,790,216,734

$31,585,359,698

6.98%

RPTTF Only

Secured

$1,777,654,227 $84,142,864

$1,542,106,076

15.27%

Unsecured

$132,134,268

-36.32%

Total

$1,861,797,091

$1,674,240,344

11.20%

All

Secured

$32,729,186,815

$29,990,582,897

9.13%

Unsecured

$2,922,827,010

$3,269,017,145

-10.59%

Total

$35,652,013,825

$33,259,600,042

7.19%

Union Elementary

City

Secured

$10,515,410,894

$9,828,333,721

6.99%

Unsecured

$59,314,512

$62,449,504

-5.02%

Total

$10,574,725,406

$9,890,783,225

6.91%

Total City

City

Secured

$432,583,744,611

$404,231,410,844

7.01%

Unsecured

$21,773,432,392

$21,012,712,141

3.62%

Total

$454,357,177,003

$425,244,122,985

6.85%

Total RDA

RPTTF Only

Secured

$53,457,091,318

$49,836,586,254

7.26%

Unsecured

$8,254,535,293

$8,167,729,999

1.06%

Total

$61,711,626,611

$58,004,316,253

6.39%

Total County

All

Secured

$486,040,835,929

$454,067,997,098

7.04%

Unsecured

$30,027,967,685

$29,180,442,140

2.90%

Totals

$516,068,803,614

$483,248,439,238

6.79%

ARR034 *RPTTF = Redevelopment Property Tax Trust Fund

by High School District by Secured and Unsecured

High School

City/RDA

Roll Type

2019/2020

2018/2019

Change %

Campbell Union High School

City

Secured

$50,103,144,600

$46,414,950,945

7.95%

Unsecured

$847,121,425

$918,037,809

-7.72%

Total

$50,950,266,025

$47,332,988,754

7.64%

RPTTF Only*

Secured

$1,240,230,822

$1,063,485,148

16.62%

Unsecured

$73,295,053

$75,804,300

-3.31%

Total

$1,313,525,875

$1,139,289,448

15.29%

All

Secured

$51,343,375,422

$47,478,436,093

8.14%

Unsecured

$920,416,478

$993,842,109

-7.39%

Total

$52,263,791,900

$48,472,278,202

7.82%

East Side High School

City

Secured

$70,533,107,903 $1,421,215,050

$66,230,989,196

6.50%

Unsecured

$1,374,576,261

3.39%

Total

$71,954,322,953

$67,605,565,457

6.43%

RPTTF Only

Secured

$12,934,998,716

$11,932,799,664

8.40%

Unsecured

$2,127,876,022

$1,877,287,174

13.35%

Total

$15,062,874,738

$13,810,086,838

9.07%

All

Secured

$83,468,106,619

$78,163,788,860

6.79%

Unsecured

$3,549,091,072

$3,251,863,435

9.14%

Total

$87,017,197,691

$81,415,652,295

6.88%

Fremont High School

City

Secured

$74,461,009,329

$69,744,412,010

6.76%

Unsecured

$4,048,182,097

$4,351,227,913

-6.96%

Total

$78,509,191,426

$74,095,639,923

5.96%

RPTTF Only

Secured

$1,777,654,227

$1,542,106,076

15.27%

Unsecured

$84,142,864

$132,134,268

-36.32%

Total

$1,861,797,091

$1,674,240,344

11.20%

All

Secured

$76,238,663,556

$71,286,518,086

6.95%

Unsecured

$4,132,324,961

$4,483,362,181

-7.83%

Total

$80,370,988,517

$75,769,880,267

6.07%

Gilroy Unified High School

City

Secured

$10,982,111,412

$10,332,177,849

6.29%

Unsecured

$327,285,399

$318,576,605

2.73%

Total

$11,309,396,811

$10,650,754,454

6.18%

Los Gatos- Saratoga Joint

Union High

City

Secured

$24,547,626,112

$23,292,102,461

5.39%

Unsecured

$220,615,152

$243,161,520

-9.27%

Total

$24,768,241,264

$23,535,263,981

5.24%

RPTTF Only

Secured

$1,715,982,555 $57,016,031

$1,649,370,473

4.04%

Unsecured

$60,548,392

-5.83%

Total

$1,772,998,586

$1,709,918,865

3.69%

All

Secured

$26,263,608,667

$24,941,472,934

5.30%

Unsecured

$277,631,183

$303,709,912

-8.59%

Total

$26,541,239,850

$25,245,182,846

5.13%

Milpitas Unified High School

City

Secured

$9,910,892,736

$9,199,236,024

7.74%

Unsecured

$727,616,163

$619,317,668

17.49%

Total

$10,638,508,899

$9,818,553,692

8.35%

RPTTF Only

Secured

$7,820,229,978 $1,168,596,857

$7,194,408,833

8.70%

Unsecured

$1,119,388,947

4.40%

Total

$8,988,826,835

$8,313,797,780

8.12%

All

Secured

$17,731,122,714

$16,393,644,857

8.16%

Unsecured

$1,896,213,020

$1,738,706,615

9.06%

Total

$19,627,335,734

$18,132,351,472

8.24%

Morgan Hill Unified High

City

Secured

$11,537,757,011

$10,834,316,993

6.49%

Unsecured

$277,916,694

$283,688,935

-2.03%

Total

$11,815,673,705

$11,118,005,928

6.28%

RPTTF Only

Secured

$3,260,582,989

$2,951,595,357

10.47%

Unsecured

$168,684,911

$143,842,440

17.27%

Total

$3,429,267,900

$3,095,437,797

10.78%

Page 1 of 2 ARR036

by High School District by Secured and Unsecured

High School

City/RDA

Roll Type

2019/2020

2018/2019

Change %

 

All

Secured

$14,798,340,000

$13,785,912,350

7.34%

Unsecured

$446,601,605

$427,531,375

4.46%

Total

$15,244,941,605

$14,213,443,725

7.26%

Mountain View- Los Altos

City

Secured

$49,046,817,728

$45,676,662,982

7.38%

Unsecured

$1,853,156,722

$1,615,219,321

14.73%

Total

$50,899,974,450

$47,291,882,303

7.63%

RPTTF Only

Secured

$3,493,033,375 $727,998,180

$2,955,792,774

18.18%

Unsecured

$955,535,425

-23.81%

Total

$4,221,031,555

$3,911,328,199

7.92%

All

Secured

$52,539,851,103

$48,632,455,756

8.03%

Unsecured

$2,581,154,902

$2,570,754,746

0.40%

Total

$55,121,006,005

$51,203,210,502

7.65%

Palo Alto Unified High School

City

Secured

$41,067,296,843

$38,426,282,833

6.87%

Unsecured

$2,011,448,006

$1,969,248,783

2.14%

Total

$43,078,744,849

$40,395,531,616

6.64%

Patterson Joint High School

City

Secured

$36,625,686

$34,998,522

4.65%

Unsecured

$46,414

$46,088

0.71%

Total

$36,672,100

$35,044,610

4.64%

San Benito Joint Union High School

City

Secured

$40,830,219

$39,821,019

2.53%

Unsecured

$1,132,767

$1,226,623

-7.65%

Total

$41,962,986

$41,047,642

2.23%

San Jose Unified High School

City

Secured

$48,743,988,098

$45,318,131,362

7.56%

Unsecured

$2,514,815,825

$2,144,797,522

17.25%

Total

$51,258,803,923

$47,462,928,884

8.00%

RPTTF Only

Secured

$6,417,166,883

$5,665,987,517

13.26%

Unsecured

$368,862,066

$370,858,535

-0.54%

Total

$6,786,028,949

$6,036,846,052

12.41%

All

Secured

$55,161,154,981

$50,984,118,879

8.19%

Unsecured

$2,883,677,891

$2,515,656,057

14.63%

Total

$58,044,832,872

$53,499,774,936

8.50%

Santa Clara Unified High

City

Secured

$41,572,536,934

$38,687,328,648

7.46%

Unsecured

$7,522,880,678

$7,173,587,093

4.87%

Total

$49,095,417,612

$45,860,915,741

7.05%

RPTTF Only

Secured

$14,797,211,773

$14,881,040,412

-0.56%

Unsecured

$3,478,063,309

$3,432,330,518

1.33%

Total

$18,275,275,082

$18,313,370,930

-0.21%

All

Secured

$56,369,748,707

$53,568,369,060

5.23%

Unsecured

$11,000,943,987

$10,605,917,611

3.72%

Total

$67,370,692,694

$64,174,286,671

4.98%

       

Total City

City

Secured

$432,583,744,611

$404,231,410,844

7.01%

Unsecured

$21,773,432,392

$21,012,712,141

3.62%

Total

$454,357,177,003

$425,244,122,985

6.85%

Total RDA

RPTTF Only

Secured

$53,457,091,318

$49,836,586,254

7.26%

Unsecured

$8,254,535,293

$8,167,729,999

1.06%

Total

$61,711,626,611

$58,004,316,253

6.39%

Total County

All

Secured

$486,040,835,929

$454,067,997,098

7.04%

Unsecured

$30,027,967,685

$29,180,442,140

2.90%

Totals

$516,068,803,614

$483,248,439,238

6.79%

*RPTTF - Redevelopment Property Tax Trust Fund

 

Santa Clara County Assessor's Office 6-28-19

By Community College District

Roll Totals 2019-2020 Compared to 2018-2019 by Secured and Unsecured

City

City/RDA

Roll Type

2019/2020

2018/2019

Change %

Foothill College

City

Secured

$164,647,775,216

$153,915,189,100

6.97%

Unsecured

$7,920,643,010

$7,939,966,812

-0.24%

Total

$172,568,418,226

$161,855,155,912

6.62%

RPTTF Only*

Secured

$5,270,687,602

$4,497,898,850

17.18%

Unsecured

$812,141,044

$1,087,669,693

-25.33%

Total

$6,082,828,646

$5,585,568,543

8.90%

All

Secured

$169,918,462,818

$158,413,087,950

7.26%

Unsecured

$8,732,784,054

$9,027,636,505

-3.27%

Total

$178,651,246,872

$167,440,724,455

6.70%

Gavilan

Community

College

City

Secured

$22,560,698,642

$21,206,315,861

6.39%

Unsecured

$606,334,860

$603,492,163

0.47%

Total

$23,167,033,502

$21,809,808,024

6.22%

RPTTF Only

Secured

$3,260,582,989

$2,951,595,357

10.47%

Unsecured

$168,684,911

$143,842,440

17.27%

Total

$3,429,267,900

$3,095,437,797

10.78%

All

Secured

$25,821,281,631

$24,157,911,218

6.89%

Unsecured

$775,019,771

$747,334,603

3.70%

Total

$26,596,301,402

$24,905,245,821

6.79%

San Jose

Community

College

City

Secured

$129,461,870,852

$121,004,849,639

6.99%

Unsecured

$4,669,971,177

$4,144,054,604

12.69%

Total

$134,131,842,029

$125,148,904,243

7.18%

RPTTF Only

Secured

$25,620,194,450

$23,278,494,539

10.06%

Unsecured

$3,542,877,123

$3,229,408,022

9.71%

Total

$29,163,071,573

$26,507,902,561

10.02%

All

Secured

$155,082,065,302

$144,283,344,178

7.48%

Unsecured

$8,212,848,300

$7,373,462,626

11.38%

Total

$163,294,913,602

$151,656,806,804

7.67%

West Valley College

City

Secured

$115,876,774,215

$108,059,522,741

7.23%

Unsecured

$8,576,436,931

$8,325,152,474

3.02%

Total

$124,453,211,146

$116,384,675,215

6.93%

RPTTF Only

Secured

$19,305,626,277

$19,108,597,508

1.03%

Unsecured

$3,730,832,215

$3,706,809,844

0.65%

Total

$23,036,458,492

$22,815,407,352

0.97%

All

Secured

$135,182,400,492

$127,168,120,249

6.30%

Unsecured

$12,307,269,146

$12,031,962,318

2.29%

Total

$147,489,669,638

$139,200,082,567

5.96%

Yosemite

Community

College

City

Secured

$36,625,686

$34,998,522

4.65%

Unsecured

$46,414

$46,088

0.71%

Total

$36,672,100

$35,044,610

4.64%

Unknown

City

Secured

 

$10,534,981

-100.00%

Unsecured

     

Total

 

$10,534,981

-100.00%

   

Total

City

Secured

$432,583,744,611

$404,231,410,844

7.01%

Unsecured

$21,773,432,392

$21,012,712,141

3.62%

Total

$454,357,177,003

$425,244,122,985

6.85%

Total

RPTTF Only

Secured

$53,457,091,318

$49,836,586,254

7.26%

Unsecured

$8,254,535,293

$8,167,729,999

1.06%

Total

$61,711,626,611

$58,004,316,253

6.39%

Total

All

Secured

$486,040,835,929

$454,067,997,098

7.04%

Unsecured

$30,027,967,685

$29,180,442,140

2.90%

Totals

$516,068,803,614

$483,248,439,238

6.79%

*RPTTF - Redevelopment Property Tax Trust Fund ARR 035 

Tagged under

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Technology Centered Mega Developments Lead Silicon Valley’s Boom.

Assessment Roll Tops Half a $Trillion; Longest Period of Growth in Decades

Following the Great Recession of 2008-2010, Silicon Valley continues to experience an unprecedented economic boom as reflected in the assessment roll data released by Santa Clara County Assessor Larry Stone. Stone announced today that the annual assessment roll hit $516 billion, a 6.79 percent increase over the prior year. The assessment roll reflects the total net assessed value of all real and business property in Santa Clara County as of January 1, 2019.

During the past eight years, the assessment roll has grown 53 percent, more than any time since the hyperinflation period in the early 1980’s. Assessment Roll Total Value and Growth for every City and School District in Santa Clara County will be posted on-line at www.sccassessor.org.

The major beneficiaries of property tax revenue are public schools, community colleges, cities and the County. Fifty percent of local property tax revenue generated in Santa Clara County goes to fund public education.

The growth in the assessment roll is due to mega office and commercial property developments and major property acquisitions by iconic tech companies, including Apple, Google, LinkedIn, Adobe and Nvidia.

Two technology companies, Apple and Google, accounted for 3 percent of the total increase. The assessed value of all Apple properties increased by $271 million. In addition, the total assessed value of all Google properties increased by $759 million.

In addition to new construction and changes in ownership, the assessed values of business property,

i.e. machinery, equipment, computers, and fixtures grew by virtually the same amount as the prior year 3.3 percent, another indication that our local economy is beginning to cool. The final component of assessment roll growth is the two percent increase in the assessed value of all properties mandated by Proposition 13.

The growth in assessed value is the direct result of several economic factors. For the first time in history, the Bay Area has four million jobs, fed by the technology sector. In San Jose, the median household income increased 21.8 percent in the last three years to $122,000, the 10th highest in the U.S.

The unemployment rate in Santa Clara County is 2.1 percent, lower than the state at 4.3 percent and 

Santa Clara County Assessment Roll Close Media Release Page 1. of 3 July 2, 2019

the nation at 3.6 percent. That is equivalent of “full” employment. “We are adding jobs, in spite of record home prices, traffic jams, fears of trade wars and labor force constraints. If the Bay Area was a country, it would be the 18th largest economy in the world”, said Stone.

“Extremely low unemployment rates in Silicon Valley have driven the cost of tech talent to an all-time high, creating a serious high-tech labor shortage. Employers, particularly technology companies, are having problems hiring skilled employees due to sky-rocketing housing costs. The lack of affordable worker housing is making it impossible for employers to fill existing jobs”, said Stone.

“The Silicon Valley office market closed on another record year, a much longer period of expansion than the “dot-com boom”, 19 years ago. Office vacancy in Silicon Valley has declined from 25 percent in 2009, to 7.4 percent at the end of the first quarter. In Silicon Valley, 7.7 million square feet of office space was under construction in the first quarter of 2019, the most since 2000. Seventy-five percent of the 7.7 million square feet was pre-leased before completion of construction. Google has 20 million square feet of office space under lease in Silicon Valley, most of it in Santa Clara County. Vacancy countywide is 1.7 percent for warehouse, and 2.7 percent for industrial at the end of the first quarter, an 18-year low. Apartment rents have increased 52 percent since 2010, with vacancy below five percent”, said Stone.

Assessor Stone cautioned that “there are early indicators that the economy may be in transition if for no other reason than we are due for a recession. Nationally, job growth in 2019 has slowed dramatically. We are seeing a marked increase in “for rent/lease” signs outside of major apartment complexes in addition to concessions such as free rent and reduced deposits to attract tenants, a clear signal that the peak of the apartment market has passed.

The same is true in the commercial sector. The unsustainable and frenzied leasing activity of 2015 and 2016 has slowed, in part, as a result of the significant increase in the supply of new office space.” These changes will likely slow the assessment roll growth in future years. Consumer confidence recently dropped to the lowest level since September 2017.

The Santa Clara County assessment roll closed on time by the statutory deadline of July 1, 2019. For the 17th consecutive year, the Assessor operated below budget, returning $1.3 million unspent back to the County’s general fund.

Assessor Annual Notification of Assessed Value

On June 28, the Assessor’s Office mailed annual assessment notices to 492,423 property owners reporting each property’s 2019-2020 assessed value. The notice serves as the basis for the property tax bill mailed in the fall. Santa Clara County is one of only nine other counties in California providing early notice to all property owners. “Most property owners in California learn of their assessed value for the first time when they receive their property tax bill in October,” said Stone. The County Finance Agency has created a tool to help property owners learn exactly how much of their property tax dollars go to their neighborhood public schools, community colleges and government agencies, including the 15 cities and county government.

Property owners who disagree with the assessed value printed on their notice are encouraged to take advantage of the Assessor’s “online tool,” available 24/7, enabling property owners to review the sale of comparable properties the Assessor used to determine their assessment. An interactive service modeled after online banking, the Opt-In Tool, allows taxpayers to securely receive assessment 

notices, in addition to interacting with the Assessor’s Office electronically rather than by mail, telephone, or in person. To access the data, a property owner must have a username and password created last year, or the PIN listed on the annual assessment notice.

Property owners who can demonstrate that their assessed value is higher than the market value of their property are encouraged to request an informal review of their assessment. The Assessor’s property appraisal staff will complete as many informal reviews as possible prior to August 1, the deadline for making changes that will be reflected on the property tax bill mailed in the fall. More information is available at www.sccassessor.org.

Assessment Appeals

The annual notice also describes the process for filing a formal assessment appeal by the September 16, 2019 deadline. Residential property owners who decide to file a formal assessment appeal, are encouraged to request their appeal be adjudicated by an independent residential Value Hearing Officer (VHO), rather than the more formal three-member Assessment Appeals Board. VHO hearings are scheduled frequently, allowing for a more rapid resolution.

“Property owners who disagree with the assessed value should not wait for the tax bill before filing an appeal, as the tax bill is mailed by the Tax Collector after the assessment appeal filing deadline”, said Stone. More information is available from the Clerk of the Board by calling (408) 299-5088, or going to their website (http://www.sccgov.org/assessmentappeals).

Note: Additional information, such as a detailed city-by-city breakdown of the assessment roll, is available in the Assessor’s Annual Report published in August. Property owners who wish to receive the Annual Report can send an email to This email address is being protected from spambots. You need JavaScript enabled to view it..

 

City

City/RDA

Roll Type

2019/2020

2018/2019

Change %

Campbell

City

Secured

$9,527,522,092

$8,846,539,389

7.70%

Unsecured

$222,484,624

$201,043,159

10.67%

Total

$9,750,006,716

$9,047,582,548

7.76%

RPTTF Only*

Secured

$1,240,230,822

$1,063,485,148

16.62%

Unsecured

$73,295,053

$75,804,300

-3.31%

Total

$1,313,525,875

$1,139,289,448

15.29%

All

Secured

$10,767,752,914

$9,910,024,537

8.66%

Unsecured

$295,779,677

$276,847,459

6.84%

Total

$11,063,532,591

$10,186,871,996

8.61%

Cupertino

City

Secured

$24,370,718,536

$23,402,123,229

4.14%

Unsecured

$1,642,461,888

$1,780,065,668

-7.73%

Total

$26,013,180,424

$25,182,188,897

3.30%

Gilroy

City

Secured

$9,001,686,593

$8,445,397,378

6.59%

Unsecured

$257,499,646

$256,724,279

0.30%

Total

$9,259,186,239

$8,702,121,657

6.40%

Los Altos

City

Secured

$16,677,044,615

$15,607,418,715

6.85%

Unsecured

$131,971,942

$112,813,483

16.98%

Total

$16,809,016,557

$15,720,232,198

6.93%

Los Altos Hills

City

Secured

$8,513,267,978

$8,075,527,148

5.42%

Unsecured

$3,724,990

$3,773,145

-1.28%

Total

$8,516,992,968

$8,079,300,293

5.42%

Los Gatos

City

Secured

$11,793,052,101

$11,144,380,950

5.82%

Unsecured

$274,501,181

$298,728,273

-8.11%

Total

$12,067,553,282

$11,443,109,223

5.46%

RPTTF Only

Secured

$1,715,982,555

$1,649,370,473

4.04%

Unsecured

$57,016,031

$60,548,392

-5.83%

Total

$1,772,998,586

$1,709,918,865

3.69%

All

Secured

$13,509,034,656

$12,793,751,423

5.59%

Unsecured

$331,517,212

$359,276,665

-7.73%

Total

$13,840,551,868

$13,153,028,088

5.23%

Milpitas

City

Secured

$9,740,308,696

$9,038,217,944

7.77%

Unsecured

$726,173,370

$619,113,378

17.29%

Total

$10,466,482,066

$9,657,331,322

8.38%

RPTTF Only

Secured

$8,345,390,890

$7,549,820,791

10.54%

Unsecured

$1,185,011,212

$1,134,639,674

4.44%

Total

$9,530,402,102

$8,684,460,465

9.74%

All

Secured

$18,085,699,586

$16,588,038,735

9.03%

Unsecured

$1,911,184,582

$1,753,753,052

8.98%

Total

$19,996,884,168

$18,341,791,787

9.02%

Monte Sereno

City

Secured

$2,294,415,950

$2,189,334,093

4.80%

Unsecured

$585,703

$415,800

40.86%

Total

$2,295,001,653

$2,189,749,893

4.81%

City

City/RDA

Roll Type

2019/2020

2018/2019

Change %

Morgan Hill

City

Secured

$6,612,086,568

$6,168,785,548

7.19%

Unsecured

$188,022,222

$186,748,918

0.68%

Total

$6,800,108,790

$6,355,534,466

7.00%

RPTTF Only

Secured

$3,260,582,989

$2,951,595,357

10.47%

Unsecured

$168,684,911

$143,842,440

17.27%

Total

$3,429,267,900

$3,095,437,797

10.78%

All

Secured

$9,872,669,557

$9,120,380,905

8.25%

Unsecured

$356,707,133

$330,591,358

7.90%

Total

$10,229,376,690

$9,450,972,263

8.24%

Mountain View

City

Secured

$26,261,569,049

$24,158,000,441

8.71%

Unsecured

$1,425,305,647

$1,336,008,156

6.68%

Total

$27,686,874,696

$25,494,008,597

8.60%

RPTTF Only

Secured

$3,493,033,375

$2,955,792,774

18.18%

Unsecured

$727,998,180

$955,535,425

-23.81%

Total

$4,221,031,555

$3,911,328,199

7.92%

All

Secured

$29,754,602,424

$27,113,793,215

9.74%

Unsecured

$2,153,303,827

$2,291,543,581

-6.03%

Total

$31,907,906,251

$29,405,336,796

8.51%

Palo Alto

City

Secured

$37,331,775,663

$34,891,627,511

6.99%

Unsecured

$2,007,283,607

$1,969,849,924

1.90%

Total

$39,339,059,270

$36,861,477,435

6.72%

San Jose

City

Secured

$156,717,634,530

$146,107,209,554

7.26%

Unsecured

$4,839,672,750

$4,498,614,897

7.58%

Total

$161,557,307,280

$150,605,824,451

7.27%

RPTTF Only

Secured

$29,439,943,018

$27,390,727,449

7.48%

Unsecured

$4,678,498,448

$4,282,432,491

9.25%

Total

$34,118,441,466

$31,673,159,940

7.72%

All

Secured

$186,157,577,548

$173,497,937,003

7.30%

Unsecured

$9,518,171,198

$8,781,047,388

8.39%

Total

$195,675,748,746

$182,278,984,391

7.35%

Santa Clara

City

Secured

$34,418,067,714

$31,964,281,926

7.68%

Unsecured

$6,349,643,970

$5,883,830,530

7.92%

Total

$40,767,711,684

$37,848,112,456

7.71%

RPTTF Only

Secured

$4,184,271,264

$4,733,686,050

-11.61%

Unsecured

$1,279,888,594

$1,382,793,009

-7.44%

Total

$5,464,159,858

$6,116,479,059

-10.66%

All

Secured

$38,602,338,978

$36,697,967,976

5.19%

Unsecured

$7,629,532,564

$7,266,623,539

4.99%

Total

$46,231,871,542

$43,964,591,515

5.16%

Saratoga

City

Secured

$16,121,178,596

$15,350,010,137

5.02%

Unsecured

$46,109,923

$43,218,776

6.69%

Total

$16,167,288,519

$15,393,228,913

5.03%

City

City/RDA

Roll Type

2019/2020

2018/2019

Change %

Sunnyvale

City

Secured

$44,386,513,515

$41,080,747,027

8.05%

Unsecured

$3,427,516,307

$3,597,134,703

-4.72%

Total

$47,814,029,822

$44,677,881,730

7.02%

RPTTF Only

Secured

$1,777,654,227

$1,542,106,076

15.27%

Unsecured

$84,142,864

$132,134,268

-36.32%

Total

$1,861,797,091

$1,674,240,344

11.20%

All

Secured

$46,164,167,742

$42,622,853,103

8.31%

Unsecured

$3,511,659,171

$3,729,268,971

-5.84%

Total

$49,675,826,913

$46,352,122,074

7.17%

Unincorporated

City

Secured

$18,816,902,415

$17,761,809,854

5.94%

Unsecured

$230,474,622

$224,629,052

2.60%

Total

$19,047,377,037

$17,986,438,906

5.90%

RPTTF Only

Secured

$2,178

$2,136

1.97%

Unsecured

0

$0

 

Total

$2,178

$2,136

1.97%

All

Secured

$18,816,904,593

$17,761,811,990

5.94%

Unsecured

$230,474,622

$224,629,052

2.60%

Total

$19,047,379,215

$17,986,441,042

5.90%

   

Total

City

Secured

$432,583,744,611

$404,231,410,844

7.01%

Unsecured

$21,773,432,392

$21,012,712,141

3.62%

Total

$454,357,177,003

$425,244,122,985

6.85%

Total

RPTTF Only

Secured

$53,457,091,318

$49,836,586,254

7.26%

Unsecured

$8,254,535,293

$8,167,729,999

1.06%

Total

$61,711,626,611

$58,004,316,253

6.39%

Total

All

Secured

$486,040,835,929

$454,067,997,098

7.04%

Unsecured

$30,027,967,685

$29,180,442,140

2.90%

Totals

$516,068,803,614

$483,248,439,238

6.79%

   

`

*RPTTF - Redevelopment Property Tax Trust Fund

Elementary School

City/RDA

Roll Type

2019/2020

2018/2019

Change %

Alum Rock Union

City

Secured

$10,095,216,694

$9,156,050,427

10.26%

Unsecured

$160,213,952

$158,644,085

0.99%

Total

$10,255,430,646

$9,314,694,512

10.10%

RPTTF Only*

Secured

$109,673,313

$104,866,636

4.58%

Unsecured

 $ 161,284

$153,246

5.25%

Total

$109,834,597

$105,019,882

4.58%

All

Secured

$10,204,890,007

$9,260,917,063

10.19%

Unsecured

$160,375,236

$158,797,331

0.99%

Total

$10,365,265,243

$9,419,714,394

10.04%

Berryessa Union

City

Secured

$12,622,942,611

$11,789,998,630

7.06%

Unsecured

$271,904,134

$258,018,927

5.38%

Total

$12,894,846,745

$12,048,017,557

7.03%

RPTTF Only

Secured

$525,160,912

$355,411,958

47.76%

Unsecured

$16,414,355

$15,250,727

7.63%

Total

$541,575,267

$370,662,685

46.11%

All

Secured

$13,148,103,523

$12,145,410,588

8.26%

Unsecured

$288,318,489

$273,269,654

5.51%

Total

$13,436,422,012

$12,418,680,242

8.20%

Burbank

City

Secured

$433,401,592

$400,509,600

8.21%

Unsecured

 $ 5,166,144

$5,123,519

0.83%

Total

$438,567,736

$405,633,119

8.12%

Cambrian

City

Secured

 $ 6,622,761,339

$6,243,741,713

6.07%

Unsecured

$78,408,164

$81,435,750

-3.72%

Total

$6,701,169,503

$6,325,177,463

5.94%

RPTTF Only

Secured

$235,360,554

$222,946,583

5.57%

Unsecured

$25,466,909

$24,627,794

3.41%

Total

$260,827,463

$247,574,377

5.35%

All

Secured

$6,858,121,893

$6,466,688,296

6.05%

Unsecured

$103,875,073

$106,063,544

-2.06%

Total

$6,961,996,966

$6,572,751,840

5.92%

Campbell Union

City

Secured

$22,896,008,397

$20,972,239,509

9.17%

Unsecured

$582,361,580

$649,563,059

-10.35%

Total

$23,478,369,977

$21,621,802,568

8.59%

RPTTF Only

Secured

$1,004,870,268

$840,538,565

19.55%

Unsecured

$47,828,144

$51,176,506

-6.54%

Total

$1,052,698,412

$891,715,071

18.05%

All

Secured

$23,900,878,665

$21,812,778,074

9.57%

Unsecured

$630,189,724

$700,739,565

-10.07%

Total

$24,531,068,389

$22,513,517,639

8.96%

Cupertino Union

City

Secured

$43,509,476,741

$41,295,935,189

5.36%

Unsecured

$1,209,497,951

$1,214,345,036

-0.40%

Total

$44,718,974,692

$42,510,280,225

5.20%

Evergreen

City

Secured

$19,056,979,197

$18,123,306,501

5.15%

Unsecured

$153,412,064

$148,120,876

3.57%

Total

$19,210,391,261

$18,271,427,377

5.14%

 

Elementary School

City/RDA

Roll Type

2019/2020

2018/2019

Change %

Franklin McKinley

City

Secured

$9,344,509,361

$8,808,964,002

6.08%

Unsecured

$338,990,083

$327,508,417

3.51%

Total

$9,683,499,444

$9,136,472,419

5.99%

RPTTF Only

Secured

$772,741,203

$697,343,687

10.81%

Unsecured

$95,400,476

$87,592,735

8.91%

Total

$868,141,679

$784,936,422

10.60%

All

Secured

$10,117,250,564

$9,506,307,689

6.43%

Unsecured

$434,390,559

$415,101,152

4.65%

Total

$10,551,641,123

$9,921,408,841

6.35%

Gilroy Unified

City

Secured

$10,982,111,412

$10,332,177,849

6.29%

Unsecured

$327,285,399

$318,576,605

2.73%

Total

$11,309,396,811

$10,650,754,454

6.18%

Lakeside Union

City

Secured

$163,822,977

$151,975,876

7.80%

Unsecured

$82,733

$77,777

6.37%

Total

$163,905,710

$152,053,653

7.79%

Loma Prieta

City

Secured

$285,567,394

$276,074,368

3.44%

Unsecured

$1,044,623

$1,102,657

-5.26%

Total

$286,612,017

$277,177,025

3.40%

Los Altos Elementary

City

Secured

$25,563,786,568

$23,933,720,789

6.81%

Unsecured

$188,479,601

$165,433,682

13.93%

Total

$25,752,266,169

$24,099,154,471

6.86%

Los Gatos Union

City

Secured

$11,704,273,064

$11,051,055,890

5.91%

Unsecured

$192,263,935

$214,073,576

-10.19%

Total

$11,896,536,999

$11,265,129,466

5.60%

RPTTF Only

Secured

$1,715,982,555

$1,649,370,473

4.04%

Unsecured

$57,016,031

$60,548,392

-5.83%

Total

$1,772,998,586

$1,709,918,865

3.69%

All

Secured

$13,420,255,619

$12,700,426,363

5.67%

Unsecured

$249,279,966

$274,621,968

-9.23%

Total

$13,669,535,585

$12,975,048,331

5.35%

Milpitas Unified

City

Secured

$9,910,892,736

$9,199,236,024

7.74%

Unsecured

$727,616,163

$619,317,668

17.49%

Total

$10,638,508,899

$9,818,553,692

8.35%

RPTTF Only

Secured

$7,820,229,978

$7,194,408,833

8.70%

Unsecured

$1,168,596,857

$1,119,388,947

4.40%

Total

$8,988,826,835

$8,313,797,780

8.12%

All

Secured

$17,731,122,714

$16,393,644,857

8.16%

Unsecured

$1,896,213,020

$1,738,706,615

9.06%

Total

$19,627,335,734

$18,132,351,472

8.24%

Moreland

City

Secured

$9,635,562,378

$8,970,126,402

7.42%

Unsecured

$121,871,025

$119,465,977

2.01%

Total

$9,757,433,403

$9,089,592,379

7.35%

Morgan Hill Unified

City

Secured

$11,537,757,011

$10,834,316,993

6.49%

Unsecured

$277,916,694

$283,688,935

-2.03%

Total

$11,815,673,705

$11,118,005,928

6.28%

RPTTF Only

Secured

$3,260,582,989

$2,951,595,357

10.47%

Unsecured

$168,684,911

$143,842,440

17.27%

Total

$3,429,267,900

$3,095,437,797

10.78%

All

Secured

$14,798,340,000

$13,785,912,350

7.34%

Unsecured

$446,601,605

$427,531,375

4.46%

Total

$15,244,941,605

$14,213,443,725

7.26%

Elementary School

City/RDA

Roll Type

2019/2020

2018/2019

Change %

Mount Pleasant

City

Secured

$2,515,473,767

$2,339,542,922

7.52%

Unsecured

$7,664,459

$8,726,995

-12.18%

Total

$2,523,138,226

$2,348,269,917

7.45%

Mountain View Elementary

City

Secured

$23,483,031,160

$21,742,942,193

8.00%

Unsecured

$1,664,677,121

$1,449,785,639

14.82%

Total

$25,147,708,281

$23,192,727,832

8.43%

RPTTF Only

Secured

$3,493,033,375

$2,955,792,774

18.18%

Unsecured

$727,998,180

$955,535,425

-23.81%

Total

$4,221,031,555

$3,911,328,199

7.92%

All

Secured

$26,976,064,535

$24,698,734,967

9.22%

Unsecured

$2,392,675,301

$2,405,321,064

-0.53%

Total

$29,368,739,836

$27,104,056,031

8.36%

North County Union Joint

City

Secured

$40,830,219

$39,821,019

2.53%

Unsecured

$1,132,767

$1,226,623

-7.65%

Total

$41,962,986

$41,047,642

2.23%

Oak Grove

City

Secured

$13,612,645,042

$12,843,045,291

5.99%

Unsecured

$47,927,839

$46,779,975

2.45%

Total

$13,660,572,881

$12,889,825,266

5.98%

RPTTF Only

Secured

$3,980,040,381

$3,642,745,633

9.26%

Unsecured

$1,070,634,900

$796,530,154

34.41%

Total

$5,050,675,281

$4,439,275,787

13.77%

All

Secured

$17,592,685,423

$16,485,790,924

6.71%

Unsecured

$1,118,562,739

$843,310,129

32.64%

Total

$18,711,248,162

$17,329,101,053

7.98%

Orchard

City

Secured

$3,285,341,231

$3,170,081,423

3.64%

Unsecured

$441,102,519

$426,776,986

3.36%

Total

$3,726,443,750

$3,596,858,409

3.60%

RPTTF Only

Secured

$7,547,382,907

$7,132,431,750

5.82%

Unsecured

$945,265,007

$977,760,312

-3.32%

Total

$8,492,647,914

$8,110,192,062

4.72%

All

Secured

$10,832,724,138

$10,302,513,173

5.15%

Unsecured

$1,386,367,526

$1,404,537,298

-1.29%

Total

$12,219,091,664

$11,707,050,471

4.37%

Palo Alto Unified

City

Secured

$41,067,296,843

$38,426,282,833

6.87%

Unsecured

$2,011,448,006

$1,969,248,783

2.14%

Total

$43,078,744,849

$40,395,531,616

6.64%

Patterson Joint

City

Secured

$36,625,686

$34,998,522

4.65%

Unsecured

$46,414

$46,088

0.71%

Total

$36,672,100

$35,044,610

4.64%

San Jose Unified

City

Secured

$48,743,988,098

$45,318,131,362

7.56%

Unsecured

$2,514,815,825

$2,144,797,522

17.25%

Total

$51,258,803,923

$47,462,928,884

8.00%

RPTTF Only

Secured

$6,417,166,883

$5,665,987,517

13.26%

Unsecured

$368,862,066

$370,858,535

-0.54%

Total

$6,786,028,949

$6,036,846,052

12.41%

All

Secured

$55,161,154,981

$50,984,118,879

8.19%

Unsecured

$2,883,677,891

$2,515,656,057

14.63%

Total

$58,044,832,872

$53,499,774,936

8.50%

Elementary School

City/RDA

Roll Type

2019/2020

2018/2019

Change %

Santa Clara Unified

City

Secured

$41,572,536,934

$38,687,328,648

7.46%

Unsecured

$7,522,880,678

$7,173,587,093

4.87%

Total

$49,095,417,612

$45,860,915,741

7.05%

RPTTF Only

Secured

$14,797,211,773

$14,881,040,412

-0.56%

Unsecured

$3,478,063,309

$3,432,330,518

1.33%

Total

$18,275,275,082

$18,313,370,930

-0.21%

All

Secured

$56,369,748,707

$53,568,369,060

5.23%

Unsecured

$11,000,943,987

$10,605,917,611

3.72%

Total

$67,370,692,694

$64,174,286,671

4.98%

Saratoga

City

Secured

$12,393,962,677

$11,812,996,327

4.92%

Unsecured

$27,223,861

$27,907,510

-2.45%

Total

$12,421,186,538

$11,840,903,837

4.90%

Sunnyvale Elementary

City

Secured

$30,951,532,588

$28,448,476,821

8.80%

Unsecured

$2,838,684,146

$3,136,882,877

-9.51%

Total

$33,790,216,734

$31,585,359,698

6.98%

RPTTF Only

Secured

$1,777,654,227 $84,142,864

$1,542,106,076

15.27%

Unsecured

$132,134,268

-36.32%

Total

$1,861,797,091

$1,674,240,344

11.20%

All

Secured

$32,729,186,815

$29,990,582,897

9.13%

Unsecured

$2,922,827,010

$3,269,017,145

-10.59%

Total

$35,652,013,825

$33,259,600,042

7.19%

Union Elementary

City

Secured

$10,515,410,894

$9,828,333,721

6.99%

Unsecured

$59,314,512

$62,449,504

-5.02%

Total

$10,574,725,406

$9,890,783,225

6.91%

Total City

City

Secured

$432,583,744,611

$404,231,410,844

7.01%

Unsecured

$21,773,432,392

$21,012,712,141

3.62%

Total

$454,357,177,003

$425,244,122,985

6.85%

Total RDA

RPTTF Only

Secured

$53,457,091,318

$49,836,586,254

7.26%

Unsecured

$8,254,535,293

$8,167,729,999

1.06%

Total

$61,711,626,611

$58,004,316,253

6.39%

Total County

All

Secured

$486,040,835,929

$454,067,997,098

7.04%

Unsecured

$30,027,967,685

$29,180,442,140

2.90%

Totals

$516,068,803,614

$483,248,439,238

6.79%

ARR034 *RPTTF = Redevelopment Property Tax Trust Fund

by High School District by Secured and Unsecured

High School

City/RDA

Roll Type

2019/2020

2018/2019

Change %

Campbell Union High School

City

Secured

$50,103,144,600

$46,414,950,945

7.95%

Unsecured

$847,121,425

$918,037,809

-7.72%

Total

$50,950,266,025

$47,332,988,754

7.64%

RPTTF Only*

Secured

$1,240,230,822

$1,063,485,148

16.62%

Unsecured

$73,295,053

$75,804,300

-3.31%

Total

$1,313,525,875

$1,139,289,448

15.29%

All

Secured

$51,343,375,422

$47,478,436,093

8.14%

Unsecured

$920,416,478

$993,842,109

-7.39%

Total

$52,263,791,900

$48,472,278,202

7.82%

East Side High School

City

Secured

$70,533,107,903 $1,421,215,050

$66,230,989,196

6.50%

Unsecured

$1,374,576,261

3.39%

Total

$71,954,322,953

$67,605,565,457

6.43%

RPTTF Only

Secured

$12,934,998,716

$11,932,799,664

8.40%

Unsecured

$2,127,876,022

$1,877,287,174

13.35%

Total

$15,062,874,738

$13,810,086,838

9.07%

All

Secured

$83,468,106,619

$78,163,788,860

6.79%

Unsecured

$3,549,091,072

$3,251,863,435

9.14%

Total

$87,017,197,691

$81,415,652,295

6.88%

Fremont High School

City

Secured

$74,461,009,329

$69,744,412,010

6.76%

Unsecured

$4,048,182,097

$4,351,227,913

-6.96%

Total

$78,509,191,426

$74,095,639,923

5.96%

RPTTF Only

Secured

$1,777,654,227

$1,542,106,076

15.27%

Unsecured

$84,142,864

$132,134,268

-36.32%

Total

$1,861,797,091

$1,674,240,344

11.20%

All

Secured

$76,238,663,556

$71,286,518,086

6.95%

Unsecured

$4,132,324,961

$4,483,362,181

-7.83%

Total

$80,370,988,517

$75,769,880,267

6.07%

Gilroy Unified High School

City

Secured

$10,982,111,412

$10,332,177,849

6.29%

Unsecured

$327,285,399

$318,576,605

2.73%

Total

$11,309,396,811

$10,650,754,454

6.18%

Los Gatos- Saratoga Joint

Union High

City

Secured

$24,547,626,112

$23,292,102,461

5.39%

Unsecured

$220,615,152

$243,161,520

-9.27%

Total

$24,768,241,264

$23,535,263,981

5.24%

RPTTF Only

Secured

$1,715,982,555 $57,016,031

$1,649,370,473

4.04%

Unsecured

$60,548,392

-5.83%

Total

$1,772,998,586

$1,709,918,865

3.69%

All

Secured

$26,263,608,667

$24,941,472,934

5.30%

Unsecured

$277,631,183

$303,709,912

-8.59%

Total

$26,541,239,850

$25,245,182,846

5.13%

Milpitas Unified High School

City

Secured

$9,910,892,736

$9,199,236,024

7.74%

Unsecured

$727,616,163

$619,317,668

17.49%

Total

$10,638,508,899

$9,818,553,692

8.35%

RPTTF Only

Secured

$7,820,229,978 $1,168,596,857

$7,194,408,833

8.70%

Unsecured

$1,119,388,947

4.40%

Total

$8,988,826,835

$8,313,797,780

8.12%

All

Secured

$17,731,122,714

$16,393,644,857

8.16%

Unsecured

$1,896,213,020

$1,738,706,615

9.06%

Total

$19,627,335,734

$18,132,351,472

8.24%

Morgan Hill Unified High

City

Secured

$11,537,757,011

$10,834,316,993

6.49%

Unsecured

$277,916,694

$283,688,935

-2.03%

Total

$11,815,673,705

$11,118,005,928

6.28%

RPTTF Only

Secured

$3,260,582,989

$2,951,595,357

10.47%

Unsecured

$168,684,911

$143,842,440

17.27%

Total

$3,429,267,900

$3,095,437,797

10.78%

Page 1 of 2 ARR036

by High School District by Secured and Unsecured

High School

City/RDA

Roll Type

2019/2020

2018/2019

Change %

 

All

Secured

$14,798,340,000

$13,785,912,350

7.34%

Unsecured

$446,601,605

$427,531,375

4.46%

Total

$15,244,941,605

$14,213,443,725

7.26%

Mountain View- Los Altos

City

Secured

$49,046,817,728

$45,676,662,982

7.38%

Unsecured

$1,853,156,722

$1,615,219,321

14.73%

Total

$50,899,974,450

$47,291,882,303

7.63%

RPTTF Only

Secured

$3,493,033,375 $727,998,180

$2,955,792,774

18.18%

Unsecured

$955,535,425

-23.81%

Total

$4,221,031,555

$3,911,328,199

7.92%

All

Secured

$52,539,851,103

$48,632,455,756

8.03%

Unsecured

$2,581,154,902

$2,570,754,746

0.40%

Total

$55,121,006,005

$51,203,210,502

7.65%

Palo Alto Unified High School

City

Secured

$41,067,296,843

$38,426,282,833

6.87%

Unsecured

$2,011,448,006

$1,969,248,783

2.14%

Total

$43,078,744,849

$40,395,531,616

6.64%

Patterson Joint High School

City

Secured

$36,625,686

$34,998,522

4.65%

Unsecured

$46,414

$46,088

0.71%

Total

$36,672,100

$35,044,610

4.64%

San Benito Joint Union High School

City

Secured

$40,830,219

$39,821,019

2.53%

Unsecured

$1,132,767

$1,226,623

-7.65%

Total

$41,962,986

$41,047,642

2.23%

San Jose Unified High School

City

Secured

$48,743,988,098

$45,318,131,362

7.56%

Unsecured

$2,514,815,825

$2,144,797,522

17.25%

Total

$51,258,803,923

$47,462,928,884

8.00%

RPTTF Only

Secured

$6,417,166,883

$5,665,987,517

13.26%

Unsecured

$368,862,066

$370,858,535

-0.54%

Total

$6,786,028,949

$6,036,846,052

12.41%

All

Secured

$55,161,154,981

$50,984,118,879

8.19%

Unsecured

$2,883,677,891

$2,515,656,057

14.63%

Total

$58,044,832,872

$53,499,774,936

8.50%

Santa Clara Unified High

City

Secured

$41,572,536,934

$38,687,328,648

7.46%

Unsecured

$7,522,880,678

$7,173,587,093

4.87%

Total

$49,095,417,612

$45,860,915,741

7.05%

RPTTF Only

Secured

$14,797,211,773

$14,881,040,412

-0.56%

Unsecured

$3,478,063,309

$3,432,330,518

1.33%

Total

$18,275,275,082

$18,313,370,930

-0.21%

All

Secured

$56,369,748,707

$53,568,369,060

5.23%

Unsecured

$11,000,943,987

$10,605,917,611

3.72%

Total

$67,370,692,694

$64,174,286,671

4.98%

       

Total City

City

Secured

$432,583,744,611

$404,231,410,844

7.01%

Unsecured

$21,773,432,392

$21,012,712,141

3.62%

Total

$454,357,177,003

$425,244,122,985

6.85%

Total RDA

RPTTF Only

Secured

$53,457,091,318

$49,836,586,254

7.26%

Unsecured

$8,254,535,293

$8,167,729,999

1.06%

Total

$61,711,626,611

$58,004,316,253

6.39%

Total County

All

Secured

$486,040,835,929

$454,067,997,098

7.04%

Unsecured

$30,027,967,685

$29,180,442,140

2.90%

Totals

$516,068,803,614

$483,248,439,238

6.79%

*RPTTF - Redevelopment Property Tax Trust Fund

 

Santa Clara County Assessor's Office 6-28-19

By Community College District

Roll Totals 2019-2020 Compared to 2018-2019 by Secured and Unsecured

City

City/RDA

Roll Type

2019/2020

2018/2019

Change %

Foothill College

City

Secured

$164,647,775,216

$153,915,189,100

6.97%

Unsecured

$7,920,643,010

$7,939,966,812

-0.24%

Total

$172,568,418,226

$161,855,155,912

6.62%

RPTTF Only*

Secured

$5,270,687,602

$4,497,898,850

17.18%

Unsecured

$812,141,044

$1,087,669,693

-25.33%

Total

$6,082,828,646

$5,585,568,543

8.90%

All

Secured

$169,918,462,818

$158,413,087,950

7.26%

Unsecured

$8,732,784,054

$9,027,636,505

-3.27%

Total

$178,651,246,872

$167,440,724,455

6.70%

Gavilan

Community

College

City

Secured

$22,560,698,642

$21,206,315,861

6.39%

Unsecured

$606,334,860

$603,492,163

0.47%

Total

$23,167,033,502

$21,809,808,024

6.22%

RPTTF Only

Secured

$3,260,582,989

$2,951,595,357

10.47%

Unsecured

$168,684,911

$143,842,440

17.27%

Total

$3,429,267,900

$3,095,437,797

10.78%

All

Secured

$25,821,281,631

$24,157,911,218

6.89%

Unsecured

$775,019,771

$747,334,603

3.70%

Total

$26,596,301,402

$24,905,245,821

6.79%

San Jose

Community

College

City

Secured

$129,461,870,852

$121,004,849,639

6.99%

Unsecured

$4,669,971,177

$4,144,054,604

12.69%

Total

$134,131,842,029

$125,148,904,243

7.18%

RPTTF Only

Secured

$25,620,194,450

$23,278,494,539

10.06%

Unsecured

$3,542,877,123

$3,229,408,022

9.71%

Total

$29,163,071,573

$26,507,902,561

10.02%

All

Secured

$155,082,065,302

$144,283,344,178

7.48%

Unsecured

$8,212,848,300

$7,373,462,626

11.38%

Total

$163,294,913,602

$151,656,806,804

7.67%

West Valley College

City

Secured

$115,876,774,215

$108,059,522,741

7.23%

Unsecured

$8,576,436,931

$8,325,152,474

3.02%

Total

$124,453,211,146

$116,384,675,215

6.93%

RPTTF Only

Secured

$19,305,626,277

$19,108,597,508

1.03%

Unsecured

$3,730,832,215

$3,706,809,844

0.65%

Total

$23,036,458,492

$22,815,407,352

0.97%

All

Secured

$135,182,400,492

$127,168,120,249

6.30%

Unsecured

$12,307,269,146

$12,031,962,318

2.29%

Total

$147,489,669,638

$139,200,082,567

5.96%

Yosemite

Community

College

City

Secured

$36,625,686

$34,998,522

4.65%

Unsecured

$46,414

$46,088

0.71%

Total

$36,672,100

$35,044,610

4.64%

Unknown

City

Secured

 

$10,534,981

-100.00%

Unsecured

     

Total

 

$10,534,981

-100.00%

   

Total

City

Secured

$432,583,744,611

$404,231,410,844

7.01%

Unsecured

$21,773,432,392

$21,012,712,141

3.62%

Total

$454,357,177,003

$425,244,122,985

6.85%

Total

RPTTF Only

Secured

$53,457,091,318

$49,836,586,254

7.26%

Unsecured

$8,254,535,293

$8,167,729,999

1.06%

Total

$61,711,626,611

$58,004,316,253

6.39%

Total

All

Secured

$486,040,835,929

$454,067,997,098

7.04%

Unsecured

$30,027,967,685

$29,180,442,140

2.90%

Totals

$516,068,803,614

$483,248,439,238

6.79%

*RPTTF - Redevelopment Property Tax Trust Fund ARR 035 

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Assessor Larry Stone Challenges Administrative Decision Slashing the 49ers’ Property Taxes.

Today, Santa Clara Assessor Larry Stone brought a legal challenge to a property tax decision by an independent assessment appeals board, asking the court to reverse the board’s unprecedented, 50 percent reduction of the 49ers’ property taxes for Levi’s Stadium. .

“This decision must not be allowed to stand,” Stone said. “As assessor, I have always been committed to ensuring the property tax roll accurately reflects the value of the property being assessed. Here, the board failed to perform its core responsibility to carefully calculate the full value of the 49ers’ rights in the Stadium.”

The San Francisco 49ers’ operating company, “Stadco,” rents the stadium from a public entity, the Santa Clara Stadium Authority, and the 49ers are required by law to pay taxes on the full value of its interest in the property. As part of a unique public-private partnership, the stadium was custom built for professional football, but also hosts other events, such as corporate events and concerts, when it is not needed by the 49ers. The board’s decision incorrectly finds that the parties intended to split the valuable rights in the stadium 50-50 between public and private entities—despite the fact that the lion’s share of the stadium’s value lies in professional football uses for which it was custom-designed.

“This decision sets a troubling precedent that is legally incorrect and must be reversed,” said Santa Clara County Counsel James R. Williams, who filed the litigation on behalf of Stone. “Communities spend hundreds of millions of dollars to build stadiums to attract professional sports teams. But when the owners of these teams fail to pay their fair share of property taxes, they are taking away money from local schools, police and firefighters, and other valuable services that our communities need.”

“The Assessment Appeals Board decision resulted in a one-time refund of over $36 million, and an estimated on-going annual property tax reduction of $6 million. The Santa Clara Unified School District absorbed the greatest reduction of over $13 million. The agencies affected also include the West Valley Community College (over $3 million), the City of Santa Clara (about $3 million), and the Santa Clara County general fund (over $5 million). Several other public agencies refunded the balance.

Stone also points out that the decision fails to assign monetary value to the 49ers’ year-round, exclusive rights to valuable portions of the facility, including a large restaurant complex, state-of-the-art team museum, team store, private clubs, and audio-visual hub. The public authority retains no comparable rights or control over the events hosted at the stadium.

“The board’s decision ignores many of the 49ers’ valuable rights and instead simply splits the value of the stadium exactly in half between the 49ers and the public authority—a position for which neither side argued, that no data supported, and that no lawful valuation method can justify,” Stone explained.

Private property rights in otherwise tax-exempt public property are known as taxable possessory interests. Taxation of these interests places the possessor on equal footing with tenants who pay a pro-rata share of the private property owners’ taxes.

The writ petition, filed in Superior Court by the Santa Clara County Counsel on behalf of the Assessor in the matter of Lawrence E. Stone, Santa Clara County Assessor v. Santa Clara County Assessment Appeals Board No. 1, asks the court to send the matter back to the board with instructions to use a method reasonably calculated to capture the full value of the 49ers’ possessory interest. Both Stone and the board are required by California’s constitution to tax all properties at their full value.

“The assessment appeals board members do not always agree with my staff on the assessments, but most of the time when they disagree, we are close. During the past 24 years, over 90% of the contested assessed value or value at risk has been sustained. Last year it was 97%. A 50% reduction for a single appeal is completely out of the ordinary. In my opinion, the administrative body reached the wrong conclusion,” said Stone.

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