Iconic Apple Park valued more than $4bn; Know how much iPhone maker is required to pay property tax per year

The iconic Apple Park in Cupertino has been assessed to be worth a whopping $3.6 billion, according to the Santa Clara county. In San Francisco Chronicle report it is said that the valuation doesn`t perfectly coincide with its market value, how much it would sell for but is based off a detailed appraisal of the building, which opened in 2017. 

Report added that once things like computers, furniture, and grounds maintenance equipment are also considered, the valuation increases to $4.17 billion.

Additionally, beyond its giant 2.8 million-square-foot size, Apple Park`s high-end materials, abundant glass and intricate design make it a standout in Silicon Valley, home to some of the world`s most valuable real estate says that report.

Interestingly, The iPhone maker is required to pay 1 per cent property tax per year, which comes out to just over $40 million this year. But some people, believe that Apple should pay more, as its property tax does not offset its contribution to the housing crisis and homelessness. 

However, according to 9to5Mac, Apple is still the largest property taxpayer in Santa Clara County.