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 | Over 350,000 property owners likely to receive small reduction in September property tax bill
Due to the “Great Recession” and the historic negative California Consumer Price Index (CCPI), Santa Clara County Assessor Larry Stone will lower the base year assessed values by 0.237% for nearly every property in Santa Clara County. Proposition 13 provides that the assessed value of all real property cannot increase by more than two percent annually, unless there is a change of ownership or new construction. Since Proposition 13 passed by the voters in 1978, the CCPI has exceeded the two percent limit in all but six years. But, this is the first time that the CCPI has been negative. As a result, an estimated 350,000 property owners will receive a reduction in the assessed value of their property. Approximately 100,000 other properties in which the assessed values are below their base year value, will not receive a reduction, as those properties are already assessed below their purchase price.
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| Fee Schedule Media Release, June 2009
The Board of Supervisors approved increases to the fees charged by the Assessor for a wide range of products and services. The new fee schedule which has not been updated since 2004, will be effective July 1, 2009. The fee increases cover the increased cost of doing business during the past five years. On average, the fees increased between 3% to 4% per year. |
| Assessment Roll Close, 2009: Property Assessments Stagnant for 2009-10
On July 1, 2009, County Assessor Larry Stone delivered to the Santa Clara County Finance Agency Director and the Tax Collector the completed annual assessment roll reflecting the assessed value of all property as of the lien (valuation) date, January 1, 2009. The total net assessed value of all real and business property grew by a meager $542 million, an increase of only 0.18 percent over the prior year. This is the smallest increase since Proposition 13 passed in 1978. “Too put this in perspective, the assessment roll grew by nearly $20 billion last year. In 2001, the apex of the dot-com boom, the assessment roll grew $27 billion,” said Stone.
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| Estimate Supplemental Assessments
Assessor unveils new on-line tool for prospective and new home owners
Estimating “Supplemental” Assessments, Property Taxes
Santa Clara County Assessor Larry Stone today announced the introduction of the on-line Supplemental Tax Estimator, which can be accessed at www.sccassessor.org/ste or on the Assessor’s website by clicking on the graphic displayed under highlights (pictured to the right). The tax estimator is designed to help new and prospective homeowners reduce confusion concerning the amount of property taxes they can expect to pay following their purchase. “It’s very frustrating. You buy a home, think your property taxes were taken care of during escrow or as part of the monthly mortgage payments, only to receive a supplemental assessment followed by a supplemental tax bill,” said Stone. “The first call they make is to our office. I am hopeful this new tool will help taxpayers estimate their supplemental taxes, before they complete the purchase transaction, and help them to prepare for the resultant supplemental tax bill before it arrives in the mail.”
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| Reductions in Assessed Value exceeds 98,000 Properties
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| 460,000 Assessment Notification Cards mailed
On June 26, the Santa Clara County Assessor’s Office mailed more than 460,000 assessment notification cards, providing property owners the opportunity to review their property’s taxable value before the 2009-10 property tax bill is generated, and mailed in September. The Assessor has proactively reduced the assessed value of just over 90,000 residential properties, a temporary reduction resulting in lower 2009-2010 property taxes. The average reduction for each residential property is $170,000 and the total assessed value reduction is expected to exceed $17 billion |
| Reduzca Impuestos a la Propiedad Sin Tener Que Pagar Más
ALERTA, PROPIETARIOS: La compañía Aim Best Appraisals (ABA) está cobrándole a dueños de propiedades $99 por un servicio que la Oficina del Tasador del Condado de Santa Clara les ofrece gratuitamente.
“Es vergonzoso,” dijo el Tasador del Condado, Larry Stone. “No hay justificación para que un propietario pague un honorario a una compañía por un servicio que los contribuyentes reciben de la Oficina del Tasador sin costo alguno.”Los propietarios, que en su mayoría son elegibles para una reducción automática y gratuita a la Proposición 8 por parte del Tasador del Condado, han recibido correspondencia de ABA ofreciéndoles, a un costo no reembolsable de $99, un avalúo y una solicitud a la Oficina del Tasador a nombre por una Proposición 8 reducción.
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| Assessment Appeals Filing Fee Waiver
Information about Waiver of $30 Assessment Appeals Filing Fee |
| 2007-2008 Annual Report Media Release
County Assessor Larry Stone released today the 2007 Assessor's Annual Report. The report summarizes important assessment information for policy makers, finance directors of public agencies, leaders in the real estate and business community, members of the media and property owners. “Uppermost in people’s mind is the economy. This report documents the third year of relatively constant assessment roll growth, between eight and nine percent. It is the clearest indication that Silicon Valley’s economy has moved past the extreme “roller coaster” highs and lows of the late 90’s and the early part of this decade, and has progressed to a more stable, balanced growth pattern,” said Stone. |
| Property Tax Reductions and Notification Cards -- Feb 2009 (English)
In recognition of the steep decline in real property market values, Assessor Larry Stone announced earlier today that his office has begun to proactively review nearly 200,000 residential properties to determine if they are eligible for a temporary reduction in assessed values. While the review has begun, property owners are urged to wait until the Assessor’s Office completes the review in late June and sends notification cards to all 460,000 property owners.
Media Release is available in Spanish, Vietnamese and Mandarin
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| Roll Close 2007 Media Release
In announcing the close of the 2007-08 assessment roll, County Assessor Larry Stone confirmed that Silicon Valley’s economy has moved past the extreme “rollercoaster” highs and lows of the late 90’s and the early 00’s and on to a more stable, balanced growth pattern. For the third consecutive year, assessed value roll growth has remained steady. The Assessor announced that the total, net assessed value of all real and business property in Santa Clara County grew by 8.25 percent, reflecting an increase of $21.6 billion. The total assessed value of all real and business personal property reached a record $283.51 billion. |
| 466,000 Assessment Notification Cards Mailed (5/11/07)
The Santa Clara County Assessor’s Office mailed 466,614 assessment notification cards. The card provides the property owner the opportunity to review the taxable value before it is formally enrolled on July 1. Should the taxpayer disagree with the assessed value, there is sufficient time to contact the Assessor for further review before the July 1 deadline. |
| Homeowner's Exemption February 5, 2007
On February 5, 2007, 14,000 property owners received a letter from the Assessor informing them that they may be eligible for as much as a $7,000 reduction in the assessed value on their home. This may then result in an annual property tax savings of approximately $70. There is no charge to submit the one-page application and apply for this benefit |
| Annual Report Media Release 2006-07
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| County Supervisors Impose $30 Filing Fee, Assessor Objects
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| Assessor’s Office certified as environmentally friendly
On Tuesday, April 18 the Assessor’s Office will be recognized by the City of San Jose for its
commitment to running a “green” office. Certified by the Green Business Program, the Assessor’s
Office is one of only two Departments in the County that has earned this distinction. “I am very
pleased to have received this designation. It demonstrates that you can be a strong manager and environmentally responsible,” said Assessor Larry Stone |
| Assessment Roll Tops $300 Billion, Grows 7% (Amended Release)
On July 1 the Assessor’s Office delivered to the Santa Clara County Finance Agency Director and the Tax Collector the completed annual assessment roll which is a snap shot of all assessed values as of the lien (valuation) date, January 1, 2008. The total, net assessed value of all real and business property grew by $19 billion to $303 billion, an increase of 6.98 percent over the prior year. Palo Alto and Cupertino experienced the largest growth in assessed value, 11 percent and 10 percent respectively. In contrast, Morgan Hill and the unincorporated portions of Santa Clara County experienced the lowest at 4 percent each. |
| Roll Close Media Release 2006
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| San Jose Business Journal Editorial re Intel Appeal
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| Domestic Partners Media Release
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| Assessor changes procedures to increase compliance
In an effort to reduce the number of businesses that routinely do not file their annual business property statements mandated by law, thereby evading payment of taxes on business personal property, the Assessor’s Office has implemented new procedures to improve compliance. On the 2008-09 assessment roll, just over 14,000 businesses out of a total of 50,791, failed to return a property statement to the Assessor’s Office by the May 7 deadline. As a direct result of existing and new procedures associated with assessing businesses that fail to file, the Assessor’s Office added over $1.8 billion dollars in business personal property assessed value and penalties to the assessment roll. Since the Assessor can recover value and penalties as far back as four years, more than $400 million more may be added from prior year assessments after July 1. |
| Proposition 8 Reductions 2005
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| Legal Exclusions from Property Taxes, Real Estate Executive, September 2006
Attached is an article that appeared in Real Estate Executive about the various legal exclsuions from property taxes. |
| Roll Close 2004 Media Release
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| HOMEOWNER'S EXEMPTION, NO CHARGE FOR FILING 2006
Homeowners beware: Property Tax Assessor Records Corp. (PTARC), a Chicago company, is once again charging for a service provided free of charge by the Santa Clara County Assessor’s Office.
“It’s outrageous,” said County Assessor Larry Stone “there's simply no reason at all for a property owner to pay a fee to a private company for a service taxpayers can receive from my office without cost.” Owners of homes, which may or may not have a Homeowner’s Exemption on file with the Assessor, have been receiving solicitations from PTARC offering to provide a completed exemption claim form for a $25 fee.
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| Roll Close 2004 Media Release Supporting Data
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| Proposition 8 Reductions, 2004
Reflecting the unusually divergent marketplace for residential and commercial real estate, Santa Clara County Assessor Larry Stone both increased and decreased assessed values of properties in accordance with the provisions of Proposition 8. The net reduction totaled almost $10 billion in assessed value. Notification cards, and letters, informing taxpayers of Proposition 8 assessed value restorations and declines were mailed recently. |
| Roll Close 2002
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| Roll Close 2003
Today, County Assessor Larry Stone announced that the total assessed value of all real and business personal property in Santa Clara County grew by a scant 3.16%, reflecting an increase of $6.67 billion. The total assessed value of all real and business personal property is $217.52 billion. |
| On-Line Filing For Small Businesses Big Success
(June 25, 2003). Participation Increases 66%. In a clear sign that local small business owners appreciate the convenience of filing their Business Property Statement on-line, participation increased by 66% to 4,696 electronic filings. |
| Assessment Notification Postcard
Santa Clara County Assessor Larry Stone announced today (5-15-03) that his office will mail Assessment Notification cards to all property owners in Santa Clara County this week, 441,678 postcards in total. This year 32,756 property owners will receive a temporary reduction in assessed value as the market values of their property fell below their assessed value due to the declining market conditions in Silicon Valley. |
| Tax Relief for Disaster Victims
Provides Information about how the Assessor's Office has determined the Assessed Value of property damaged by a disaster. |
| IBM Lawsuit
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| Low Value Ordinance
PROPERTY TAX RELIEF FOR SMALL BUSINESSES |
| Roll Close Press Release 1998
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| Update on Notice Error 5-20-08
Assessor’s Office responds quickly, sends 80,000 corrected notification letters. County Assessor Larry Stone is mailing letters to just over 15 percent of all County property owners in Santa Clara County, apologizing for the incorrect information contained in their assessment notification post card mailed on May 9. Stone’s letter also provides the correct information. The vendor responsible for this printing error, has accepted full responsibility for the problem, and will pay the entire cost of printing and mailing the corrected notices.
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| Assessment Notification mailing error--5-12-08
Approximately 15% of the 470,000 Assessment notifications cards were printed with errors. The Assessor’s office has isolated those zip codes, no more than 12, tha are most likely to have received notification cards containing errors and the list is attached. The Assessor’s Office has confirmed that the problem is confined to the physical printing of the cards; the Assessor’s internal database does not contain these errors. Once the Assessor’s Office has identified which property owners received the wrong information the Office plans to mail those taxpayers a corrected notification as quickly as possible. |
| Roll Close Press Release 1999
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| Roll Close Press Release 2000
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| Roll Close Press Release 2001
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| Retroactive Domestic Partner Law to expire on June 30, 2009
Since 2006, most registered domestic partners have been afforded the same property tax rights as married couples. One of the major benefits was that a surviving domestic partner, whose partner had died, would not be faced with a potentially steep reassessment and increase in property taxes. Unfortunately the law did not include eligible domestic partners registered prior to 2006.
In 2007 Senator Chris Kehoe changed the law to correct this anomaly. Senate Bill 559 retroactively extends to domestic partners registered between January 1, 2000, and December 31, 2005, the same property tax benefits afforded domestic partners that registered on or after January 1, 2006. Howevere, the law requires qualifying taxpayers to apply for the exclusion by June 30, 2009.
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| Assessment Info Green Brochure
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| Assessor notifies schools and cities of preliminary assessment information
Earlier today the Santa Clara County Assessor notified the finance directors of every city, redevelopment agency and school district in Santa Clara County with the preliminary results of extensive reductions in the assessed values of 90,000 residential properties, and the potential impact on the 2009-2010 assessment roll. “It is far more pervasive than I expected, and these preliminary numbers are far from final. “While incomplete, this data is valuable to cities and schools as they plan their budgets, said Assessor Larry Stone.” |
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