http://mv-voice.com/square/print/2012/07/06/google-pushes-city-to-first-place-in-county-tax-growth


Town Square

Google pushes city to first place in county tax growth

Original post made on Jul 6, 2012

Mountain View now leads the county in property tax growth, and it's almost entirely because of Google's rapid expansion here, says county assessor Larry Stone.


Read the full story here Web Link posted Friday, July 6, 2012, 11:33 AM

Comments

Posted by James, a resident of Whisman Station
on Jul 6, 2012 at 4:16 pm


Our home's assessed value jumped 20% since last year. I expect this is also due to the Google effect, plus interest rates don't seem to be finding a bottom due to the Fed's QE?


Posted by Doug Pearson, a resident of Blossom Valley
on Jul 6, 2012 at 9:45 pm

I am heartened by the fact that Mountain View's assessed values are increasing more rapidly than Prop 13's infamous 2% rate, i.e., property is actually being bought and sold, but I am disappointed that so much of the increase is due to an ever-increasing Google impact. I don't like to see Mountain View becoming a company town, but better that than continuing decline.


Posted by Steven Nelson, a resident of Cuesta Park
on Jul 7, 2012 at 8:51 am

The Google impact will affect the schools in different ways than the City (i.e. Shoreline District). The Shoreline "infamous 0% rate" insures education (and County) General Funds will be guaranteed 0% of the assessment increase [the infamous "tax Increment" mechanisms of redevelopment districts]. HOWEVER, the education facilities bonds can be paid off with increased revenues from the increased BOND assessments [we live in such odd government times!]. The assessments affect both BOND and Prop 13 (1% limit) tax receipts - but only BOND revenue flows directly to education.
Any Google purchased 'unsecured' business property (or real property) that is bought OUTSIDE of Shoreline generates 100% of the full tax rates for education and the County General Fund. (i.e. it is not diverted or restricted and can be used for either salaries, class size reduction, maintenance - or - building.) IMO, it is to our community advantage if Google expands outside of Shoreline District. and ... I will still argue, as I have for 5 years now - it would be to our community advantage to eliminate the Shoreline redevelopment district - and replace it with a new 'assessment district'. Otherwise - education and the county will continue to subsidize traffic improvements and other things for that area.