Apple’s circular headquarters in Cupertino, California was assessed at $3.6 billion by Santa Clara County for property tax purposes, according to an article in the Times Now News. The valuation doesn’t perfectly match with its market value – how much it would sell for – but is based off a detailed appraisal of the building, which opened in 2017.
The iconic HQ property, known as Apple Park, consists of 2.8 million square feet and was built to resemble a spaceship.
Property taxes of 1% mean that Apple will likely pay around $40 million annually. However, Apple could potentially appeal the valuation in an effort to lower its tax bill. This is something that it has previously done for other buildings.
The company was Santa Clara County’s largest property taxpayer for the 2017-18 fiscal year. In total, it paid $56 million in taxes.