Sept 8th, 2018: Economic Update with County Assessor Larry Stone

On Sept 8. 2018, Mr Larry Stone, County Assessor of Santa Clara County,graced us with his presence. He began by outlining the progress of Santa Clara County on job growth, housing issues, trends of commercial, retail and industrial warehouse occupancy. While Silicon Valley is going through significant growth, Mr Stone commented that if housing shortage is not properly addressed, many young people will choose to leave the Silicon Valley. He mentioned that Proposition 13 has been able to maintain the property tax basis low for the long time home owners. If the “empty-nesters” home owners (one of spouses is age 55 or above), they can still retain the low property tax basis by moving into a home that is no more than 105% of the one they sold. There are 11 counties that agreed to this proposition 60.
Larry is very knowledgeable about the direction of development in Santa Clara County, he on his 6th term as County Assessor( which translate into 24 years of service).