Fairfax, California Property Taxes
The median property tax rate in Fairfax, CA is 1.60%, considerably higher than both the national median of 0.99% and the California state median of 1.21%. With the median home value in Fairfax, the typical annual property tax bill reaches $10,052, far exceeding the national median of $2,690. Property taxes in Fairfax are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Fairfax's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Fairfax or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fairfax, California Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$2,420
Ownwell’s Fairfax Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fairfax with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fairfax to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Fairfax, California
Property taxes in Fairfax, California, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fairfax is 1.60%, significantly higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Fairfax set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairfax estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Fairfax's effective property tax rate to other areas in California and the national median. For comparison, the 94956 zip code has the highest median property tax rate of 2.46%, while the 94973 zip code has the lowest median tax rate of 1.14%. Understanding how these areas compare with Fairfax provides valuable insights into the varying tax landscape across Marin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fairfax Tax Rate
1.60%
Average Marin County Tax Rate
1.38%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fairfax, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94924 | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% |
| 94930 | 1.23% | 1.42% | 1.60% | 1.92% | 2.73% |
| 94937 | 1.21% | 1.27% | 1.38% | 1.49% | 1.56% |
| 94956 | 2.46% | 2.46% | 2.46% | 2.46% | 2.46% |
| 94973 | 1.14% | 1.14% | 1.14% | 1.14% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Fairfax, California
In Fairfax, California, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Marin County Assessor's Office for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Fairfax, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Fairfax helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in Marin County is $23,779 in the 94973 zip code, while the lowest is $1,419 in the 94956 zip code.
Average Fairfax Assessed Value
$642,967
Average Marin County Assessed Value
$766,131
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fairfax, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94924 | $602,380 | $602,380 | $602,380 | $602,380 | $602,380 |
| 94930 | $149,499 | $322,922 | $643,076 | $1,000,314 | $1,506,406 |
| 94937 | $214,132 | $370,968 | $632,362 | $893,756 | $1,050,592 |
| 94956 | $57,733 | $57,733 | $57,733 | $57,733 | $57,733 |
| 94973 | $2,087,970 | $2,087,970 | $2,087,970 | $2,087,970 | $2,087,970 |
Source: Ownwell
Property Tax Bills Across Fairfax, California
In Fairfax, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. The assessed value is often a percentage of the property's market value. For instance, the median home price in Fairfax is $642,967. Property tax rates in this area can vary, with some homeowners paying as little as $1,419, while others face bills as high as $23,779, depending on their property's assessed value and specific location within the county. Several factors influence these tax bills, including property size, location, and any applicable exemptions or deductions. For example, properties in the zip code with the highest median tax bill, 94973, can see taxes upwards of $23,779. Conversely, those in the 94956 zip code might pay around $1,419. These taxes significantly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Understanding how these factors interplay helps homeowners anticipate their annual tax obligations and plan accordingly.
Average Fairfax Tax Bill
$10,052
Average Marin County Tax Bill
$10,481
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairfax, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94924 | $8,570 | $8,570 | $8,570 | $8,570 | $8,570 |
| 94930 | $4,038 | $6,121 | $10,055 | $14,375 | $19,786 |
| 94937 | $2,923 | $4,680 | $7,610 | $10,539 | $12,296 |
| 94956 | $1,419 | $1,419 | $1,419 | $1,419 | $1,419 |
| 94973 | $23,779 | $23,779 | $23,779 | $23,779 | $23,779 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | November 30 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | December 10 |
| Due Date #2 | April 10 |
Links | |
|---|---|
| Marin Tax Assessor | |
| Website | apps.marincounty.org |