Santa Clara County’s biggest commercial property taxpayer is a tech titan: new report
Tech companies dominate list of top property taxpayers in South Bay
SAN JOSE, Calif. — Tech firms dominate the list of Santa Clara County’s ten largest commercial property taxpayers, which reads like a who’s who of the country’s tech sector.
According to a new report from the county Assessor’s Office, Google was the largest commercial property taxpayer in Santa Clara County.
Apple, Apple unit Campus Holdings, Cisco, Applied Materials, Intel, and LinkedIn are among the other notable tech companies on the list. Pacific Gas and Electric and Westfield Malls were also among the top ten non-tech companies.
Here’s how the top ten commercial property owners in Santa Clara County stacked up, including the total assessed value of their property holdings:
— Google, $9.54 billion
— Campus Holdings, an Apple unit, $5 billion
— Apple, $2.88 billion
— Pacific Gas & Electric, $2.99 billion
— Planetary Ventures (owned by Alphabet, which also owns Google), $1.56 billion
— Cisco Technology, $1.56 billion
— Westfield Malls, $1.53 billion
— Applied Materials, $1.41 billion
— Intel, $1.32 billion
— LinkedIn, $1.24 billion
If Apple and its Campus Holdings entity were combined, the total value of Apple’s commercial property holdings would be $7.88 billion, propelling the iPhone maker to second place on the most recent list.
According to the Assessor’s Office, Santa Clara County’s property tax roll — which includes both secured real estate and unsecured items such as a company’s equipment — has reached an all-time high of $661.2 billion as of Jan. 1, 2023.
According to the county agency, the value of the county’s property tax roll increased by 6.7% in 2023 compared to the previous reporting year. In comparison to the 2022 reporting year, this represents a slight slowdown in the annual increase.
The Assessor’s Office reported that Santa Clara County properties had a combined assessed value of $619.95 billion in 2022, a 7% increase from 2021, when the property tax roll totaled $576.9 billion.
