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San Jose Standard

Saturday, September 21, 2024

Santa Clara County effective property tax rate in Q2 was lower than the national average

Realestate3

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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 2024, which is less than 0.5 times the national average, according to the real estate analysis posted by San Jose Standard.

The median sales price of a Santa Clara County home in the second quarter of 2024 was $1,620,000, based on data from the 4,046 properties sold during that time. In 2024, the median tax bill for the county was $9,685, which is 0.6% of the median value of the homes that were taxed.

This is 0.5 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 Lexington Hills, Gilroy, and Morgan Hill 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 Lexington Hills 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 2024.

CityQ2 2024 SalesQ2 2024 Median PriceMedian tax 2024Effective tax rate
Lexington Hills9$875,000$7,9230.9%
Gilroy82$1,042,500$8,0750.8%
Morgan Hill127$1,350,000$8,9990.7%
San Jose1,851$1,505,000$8,9120.6%
Campbell112$1,799,000$10,0820.6%
Los Altos Hills15$5,360,000$34,3980.6%
Mountain View208$1,947,500$10,9950.6%
Milpitas149$1,400,000$8,3990.6%
Burbank9$1,300,000$8,1110.6%
San Martin15$1,575,000$8,7750.6%
Alum Rock16$987,500$6,3590.6%
East Foothills22$1,745,000$9,9450.6%
Loyola5$4,005,000$24,5700.6%
Palo Alto194$3,244,500$14,8890.5%
Sunnyvale280$1,834,000$9,3630.5%
Los Gatos112$2,612,500$13,9390.5%
Saratoga94$3,927,000$18,7940.5%
Los Altos83$4,110,000$19,1990.5%
Cupertino140$2,750,000$13,2340.5%
Monte Sereno13$5,400,000$23,5410.4%
Santa Clara40$2,200,000$8,5500.4%
Cambrian Park6$2,235,000$9,5560.4%
Fruitdale2$1,990,500$8,0060.4%

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