San Mateo County’s property roll has surged to a record $357.6 billion for the 2026-27 fiscal year, climbing by about $16.6 billion and extending a 16-year streak of growth. The 4.85% boost touched all 20 cities and unincorporated areas in the county and will help decide how next year’s property tax dollars get sliced up.
“San Mateo County continues to demonstrate remarkable economic resilience and long-term stability,” Assessor Mark Church said as he certified the roll. In a release, the San Mateo County Assessor’s Office credited the gain to a mix of inflation-adjusted Proposition 13 increases, property transfers and new construction, even as the commercial sector cools off.
That record roll translates to roughly $3.58 billion in property tax revenue, which officials say is about 1% of the assessed value. More than half of that haul is headed for local classrooms. As reported by the San Mateo Daily Journal, the Assessor’s Office estimates about $1.82 billion for schools, $894.08 million for the county, 16% for cities, 7% for special districts and 1% for former redevelopment agencies.
What’s Driving The Jump
According to the San Mateo County Assessor’s Office, roughly 61% of the increase in the secured roll came from new construction and changes in ownership, with the remaining 39% tied to the annual California Consumer Price Index adjustment and other roll changes.
The office also pointed to a tightening labor market, with unemployment easing to about 3.1% in May, according to the Employment Development Department. Regional wealth tied to artificial intelligence and other advanced-tech hiring has helped concentrate gains at the high end of the housing market, a trend highlighted in recent analysis by Redfin.
Where Growth Landed
The growth spread across the map but hit hardest in already pricey pockets and around major development hubs. Patch reported that Brisbane logged the largest percentage bump in assessed value, while Menlo Park led the pack in total dollars added. Redwood City, San Mateo and Burlingame also racked up hefty gains.
Patch also notes that Redwood City now hosts the county’s largest cluster of tracked major development projects, with about 21.15 million square feet on the books.
Condo Market Cools
The story is more subdued in the condo world. Sales of condominium units slipped in 2025, and prices inched down as the market reset. According to the San Mateo Daily Journal, condo sales dipped from roughly 1,164 units to 1,119, while the median condo price edged from $915,000 to $909,000.
Single-family homes, however, stayed lofty. Countywide median pricing for those houses hovered near $1.98 million, according to data from the San Mateo County Association of REALTORS® (SAMCAR).
Local officials say the swollen roll will help pump more money into schools, parks and public safety in the coming year. At the same time, they stress that the assessment landscape is far from set in stone. Thousands of parcels were reviewed for potential value declines, and appeals or market shifts can still nudge those numbers. County budget staff and school districts will now plug the fresh figures into their spreadsheets as the region heads into the summer budget season.
