Property values up in the county, but not in Gilroy

While the rest of Santa Clara County enjoys a slow increase in the price of homes and commercial properties for the first time in three years, Gilroy and Morgan Hill’s prices remain slumped, according to a press release from Santa Clara County’s Assessors Office.
Gilroy’s property assessments declined by .4 percent while Morgan Hill only grew by .01 percent.
Since 2008, the county has experienced negative or minimal growth for property values, and this year represents the first solid comeback with an overall growth average of 3.25 percent.
County Assessor Larry Stone likened the county’s growth to a train, with the northern cities like Mountain View and Cupertino demonstrating strong growth, while South County cities lag behind.