Inverness, California Property Taxes
The median property tax rate in Inverness, CA is 1.20%, slightly below the California state median of 1.21% but still higher than the national median of 0.99%. With a median home value of $624,440, the typical annual property tax bill in Inverness reaches $7,249, significantly exceeding the national median of $2,690. Property taxes in Inverness are calculated based on the assessed value, which is often lower than the market value due to exemptions like the primary residence exemption. Understanding Inverness'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 Inverness 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
Inverness, 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 Inverness Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Inverness with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Inverness 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 Inverness, California
Property taxes in Inverness, California, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Inverness is 1.20%, higher than both the California state median and the U.S. national median of 0.99%. Local government entities within Inverness set these rates annually, and they can vary significantly across different neighborhoods. Each year, Inverness 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 Inverness's effective property tax rate to other counties in California and the national median. For comparison, the 94937 ZIP code has the highest median property tax rate of 1.20%, while the same ZIP code also has the lowest median tax rate of 1.20%. Understanding how these cities compare with Inverness 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 Inverness Tax Rate
1.20%
Average Marin County Tax Rate
1.38%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Inverness, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94937 | 1.11% | 1.14% | 1.20% | 1.38% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Inverness, California
In Inverness, 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 Inverness, 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 Inverness helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 94937, where the median tax bill is $7,249.
Property Tax Assessment Values Across Inverness, California
Source: Ownwell
$37,528
$1,404,773
$2,772,017
Average Inverness Assessed Value
$624,440
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 Inverness, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94937 | $110,680 | $258,093 | $624,440 | $1,169,712 | $1,732,374 |
Source: Ownwell
Property Tax Bills Across Inverness, California
In Inverness, located in Marin County, CA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is generally a percentage of the market value of the property. Homeowners in Inverness face a median property tax rate that is reflective of the county's overall tax structure. The median home price in Inverness is $624,440, leading to varying tax bills across different percentiles. For instance, the 25th percentile tax bill is around $3,514, while the 75th percentile reaches approximately $12,861, and the 90th percentile can be as high as $18,496. These tax bills are influenced by several factors, including property improvements, market conditions, and local tax rates. Compared to the national median property tax rate of 0.99%, Inverness's property tax rates can significantly impact homeowners' financial planning. Higher property taxes can affect housing affordability and the overall cost of living, making it crucial for homeowners to understand their tax obligations.
Average Inverness Tax Bill
$7,249
Average Marin County Tax Bill
$10,481
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Inverness, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94937 | $1,885 | $3,514 | $7,249 | $12,861 | $18,496 |
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 |