Apple, Genentech holding up counties for billions on property tax

By By Adam Brinklow  : curbed – excerpt

Tech companies lead in tax assessment disputes

Silicon Valley’s boom times mean that county coffers are booming too, as all of that private success can lead to a fat annual bill when it’s time to pay the taxman.

According to the Santa Clara County Assessor’s Office, 2018 netted an assessment roll of more than $483 billion. County Assessor Larry Stone’s office notes in its annual report:

But the county might not be as happy about letting the good times roll as one would assume, because it turns out trying to serve a tax bill in Silicon Valley is a taxing experience in and of itself.

According to the San Francisco Chronicle, Apple is embroiled in arguments about its property tax value, appealing billions of dollars going back over a decade:..(more)

Is this what they mean when they say that growth does not support growth? All the great tax benefits the city is supposed to be collecting from the big corporations are not being collected. Jobs and not bringing in taxes as promised because the corporations are suing to block payments because they can..

Advertisements