November 30, 2023
Tech companies dominate the list of Santa Clara County's 10 largest commercial property taxpayers.

SAN JOSE — Tech companies dominate the list of Santa Clara County’s 10 largest commercial property taxpayers, a compilation that reads like a who’s who of the nation’s tech sector.

Google was the largest commercial property taxpayer in Santa Clara County, a new report from the county Assessor’s Office shows.

Other notable tech companies on the list were Apple, Apple unit Campus Holdings, Cisco, Applied Materials, Intel and LinkedIn. Non-tech companies Pacific Gas and Electric and Westfield Malls also made the top 10.

Here’s how the 10-largest owners of commercial property stacked up, including the total assessed value of their property holdings in Santa Clara County:

— Google, $9.54 billion

— Campus Holdings, an Apple unit, $5 billion

— Apple, $2.88 billion

— Pacific Gas & Electric, $2.99 billion

— Planetary Ventures (owned by Alphabet, which also owns Google), $1.56 billion

— Cisco Technology, $1.56 billion

— Westfield Malls, $1.53 billion

— Applied Materials, $1.41 billion

— Intel, $1.32 billion

— LinkedIn, $1.24 billion

If Apple and its Campus Holdings entity were combined, the total value of Apple’s commercial property holdings would be $7.88 billion, moving the iPhone maker up to No. 2 on the latest list.

Santa Clara County’s property tax roll — which includes both secured real estate and unsecured items, such as a company’s equipment — jumped to an all-time record high of $661.2 billion as of Jan. 1, 2023, the Assessor’s Office reported.

The value of the county’s property tax roll increased by 6.7% in 2023 compared with the 2022 reporting year, according to the county agency. This represents a slight slowdown in the annual increase compared to the 2022 reporting year.

Santa Clara County properties had a combined assessed value of $619.95 billion for 2022, which was an increase of 7% from 2021, when the property tax roll totaled $576.9 billion, the Assessor’s Office reported.