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South SFV Today

Sunday, October 6, 2024

Analysis: Santa Clara County effective property tax rates were lower than the national average in Q1

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Property owners in Santa Clara County paid 0.7% of the value of their homes in property taxes in the first quarter of 2024, which is less than 0.6 times the national average, according to the real estate analysis posted by South SFV Today.

The median sales price of a Santa Clara County home in the first quarter of 2024 was $1,460,000, based on data from the 2,432 properties sold during that time. In 2024, the median tax bill for the county was $9,685, which is 0.7% of the median value of the homes that were taxed.

This is 0.6 times lower than the average effective property tax rate of 1.11% in the U.S. in 2023.

The analysis of Santa Clara County real estate data showed homeowners in Burbank and Gilroy paid the highest rates.

The above article calculates the effective property tax rate for 2024 using estimated inflation values and 2021 tax data provided by the county. In some cases, the actual effective property tax rate may vary slightly.

The following table compares Burbank with some other cities belonging to Santa Clara County by their median effective property tax rate, calculated using sales and property tax data from the first quarter of 2024.

CityQ1 2024 SalesQ1 2024 Median PriceMedian tax 2024Effective tax rate
Burbank4$1,057,500$8,1110.8%
Gilroy80$990,000$8,0750.8%
San Jose1,161$1,370,000$8,9120.7%
Lexington Hills8$1,166,000$7,9230.7%
Morgan Hill73$1,325,000$8,9990.7%
Alum Rock8$890,500$6,3590.7%
East Foothills16$1,370,000$9,9450.7%
Campbell68$1,792,500$10,0820.6%
Mountain View97$1,770,000$10,9950.6%
Milpitas83$1,360,000$8,3990.6%
San Martin4$1,541,500$8,7750.6%
Palo Alto104$2,866,250$14,8890.5%
Sunnyvale161$1,750,000$9,3630.5%
Los Gatos54$2,775,000$13,9390.5%
Saratoga52$4,000,000$18,7940.5%
Los Altos Hills11$6,401,000$34,3980.5%
Monte Sereno5$4,928,000$23,5410.5%
Cambrian Park5$1,950,000$9,5560.5%
Fruitdale2$1,539,000$8,0060.5%
Los Altos37$3,950,000$19,1990.5%
Loyola5$5,160,000$24,5700.5%
Santa Clara19$2,175,000$8,5500.4%
Cupertino68$3,010,500$13,2340.4%

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