Meet Larry Stone - Assessor, Santa Clara County

SVL: What is an assessed value and how do you arrive at that number?LS: In California, an assessed value is the dollar value of property determined by the local assessor for the purpose of property taxation.California Assessors are required to assess all property at fair market value at the time a property is transferred or at new construction. State certified appraisers in my office perform market-based appraisals to determine an assessment. Last year, th..