Taxable property in Saratoga is worth about $23.59 billion on the 2026-27 county roll, up 5.65% from $22.33 billion a year earlier, according to a report the City Council's Finance Advisory Committee receives at 4 p.m. today, Nov. 9.
The city's property tax consultant, HdL Coren & Cone, prepared the analysis from Santa Clara County Assessor data. Saratoga's growth outpaced the countywide gain of 4.71%, but it was slower than the 6.5% increase the year before, according to a staff memo.
What drove the increase
Almost all of the gain came from homes. Residential property makes up about 96.7% of the city's taxable value, staff wrote, and residential values rose about $1.22 billion.
HdL's breakdown attributes about $622 million of the growth to homes and other property that changed hands and were reassessed at sale prices, and about $416 million to the 2% inflation adjustment allowed under Proposition 13. New residential construction added about $117 million. Temporary value reductions under Proposition 8 and their recapture subtracted a net $58 million.
Irrigated agricultural land rose by about $40 million, led by one parcel, and commercial property gained about $12 million, or 3.3%.
Home prices dipped
The report shows the median sale price of a detached single-family home in Saratoga was $4.25 million from January through August, about $50,000 or 1.2% below 2025's $4.3 million median. HdL notes the median has climbed from a low of $1.625 million in 2012.