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Santa Clara County Assessor Larry Stone announced this morning that he will step down next month, triggering the need for an election to find his successor.
First elected assessor in 1994, Stone will step down as the longest tenured elected official in the county. In a statement, he said he will officially step down on July 6. Assistant Assessor Greg Monteverde will become acting assessor, according to the announcement.
A former Sunnyvale City Council member, Stone has spent the past 30 years overseeing the county’s assessment rolls and changes in the county’s valuation practices. According to the announcement, the county has seen a 500% increase in the assessment roll.
He called his service as an assessor “the honor of my lifetime.”
“When I first took office, I could not have imagined the journey ahead,” Stone said. “My private sector real estate and business experience prepared me for success in the efficient and effective management of the Assessor’s Office.”
Stone’s last election took place in 2022, when he easily won in the primaries, picking up 67% of the vote. The term was set to conclude at the end of 2026.
He said that his office has been working on updating its assessment management system, which is 40 years old. The county Board of Supervisors approved the new system contract last week, he asid.
“I knew I just couldn’t leave until this critical project was moving forward,” Stone said. “Now, with the new system ready to implement and the successful completion of my 30th assessment roll close, the timing feels right to step down.”
Stone said having Monteverde fill the office in acting capacity will allow for “continuity in leadership during this time of change and countywide budget uncertainty.”
“I am confident that he, along with the executive management team, will ensure a smooth transition and an uninterrupted commitment to serving our community with excellence until a new assessor is elected.”
