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Monday, November 25, 2024

Analysis: Santa Clara County effective property tax rates were lower than the national average in Q2 2023

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Property owners in Santa Clara County paid 0.6% of the value of their homes in property taxes in the second quarter of 2023, 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 second quarter of 2023 was $1,475,000, based on data from the 3,458 properties sold during that time. In 2023, the median tax bill for the county was $9,356, which is 0.6% 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 Stanford paid the highest tax rate of 0.9%.

The above article calculates the effective property tax rate for 2023 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 Stanford 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 second quarter of 2023.

CityQ2 2023 SalesQ2 2023 Median PriceMedian tax 2023Effective tax rate
Stanford3$1,381,500$12,6490.9%
Lexington Hills9$980,000$7,6540.8%
Morgan Hill102$1,150,000$8,6940.8%
Gilroy119$998,000$7,8020.8%
Monte Sereno10$3,100,000$22,7430.7%
Burbank8$1,190,500$7,8360.7%
East Foothills25$1,445,000$9,6080.7%
Loyola6$3,237,500$23,7370.7%
San Jose1,598$1,350,000$8,6100.6%
Campbell79$1,628,000$9,7400.6%
Los Gatos111$2,220,000$13,4660.6%
Los Altos Hills14$5,487,500$33,2320.6%
Mountain View148$1,833,000$10,6230.6%
Milpitas128$1,300,000$8,1150.6%
San Martin7$1,365,000$8,4770.6%
Alum Rock7$950,000$6,1440.6%
Palo Alto157$3,050,000$14,3840.5%
Sunnyvale252$1,950,000$9,0460.5%
Saratoga83$3,625,000$18,1560.5%
Santa Clara28$1,694,000$8,2610.5%
Los Altos72$3,850,000$18,5480.5%
Cupertino85$2,560,000$12,7850.5%
Cambrian Park8$3,040,000$9,2320.3%

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