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Sunday, November 24, 2024

Analysis: Santa Clara County effective property tax rate were lighter than the national average in Q1 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 first quarter of 2023, which is less than 0.6 times the national average, according to the real estate analysis posted by the Santa Clara Today.

The median sales price of a Santa Clara County home in the first quarter of 2023 was $1,300,000, based on data from the 2,143 properties sold during that time. In 2021 the median tax bill for the county was $8,207, 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 Gilroy, Burbank, and Lexington Hills paid the highest rates.

The following table compares Gilroy 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 2023.

CityQ1 2023 SalesQ1 2023 Median PriceMedian tax 2023Effective tax rate
Gilroy81$900,000$7,8020.9%
Burbank7$960,000$7,8360.8%
Lexington Hills3$985,000$7,6540.8%
San Jose1,008$1,210,000$8,6100.7%
Los Altos Hills12$4,950,000$33,2320.7%
Mountain View94$1,564,500$10,6230.7%
Monte Sereno6$3,125,000$22,7430.7%
Milpitas84$1,152,500$8,1150.7%
Morgan Hill70$1,176,500$8,6940.7%
East Foothills9$1,462,500$9,6080.7%
Loyola3$3,450,000$23,7370.7%
Sunnyvale137$1,585,000$9,0460.6%
Campbell43$1,508,000$9,7400.6%
Los Gatos62$2,340,000$13,4660.6%
Cambrian Park9$1,590,000$9,2320.6%
San Martin11$1,380,000$8,4770.6%
Alum Rock9$980,000$6,1440.6%
Palo Alto80$3,100,000$14,3840.5%
Saratoga35$3,600,000$18,1560.5%
Santa Clara25$1,639,500$8,2610.5%
Los Altos38$3,510,000$18,5480.5%
Cupertino53$2,350,000$12,7850.5%

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